CORDIS Project
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This project aims to improve methods for measuring consumer welfare by developing nonparametric approaches that avoid restrictive assumptions. It focuses on discrete-choice scenarios to provide reliable welfare estimates, impacting economic evaluations and policy decisions.
Measurement of consumer welfare is central to economic evaluations.
It underlies calculation of price-indices, formulation of tax policies, and environmental and industrial regulation.
But existing measurement methods rely on restrictive assumptions about consumer preferences, leading to potentially incorrect conclusions regarding policy-impacts.
The proposed project aims to make fundamental contributions to empirical welfare analysis by developing nonparametric approaches, which would avoid suc…
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