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| Author: | Weitzman, M. L. |
| Title: | A contribution to the theory of welfare accounting |
| Journal: | Scandinavian Journal of Economics
2001 : VOL. 103:1, p. 1-23 |
| Index terms: | National income Accounting Welfare economics Econometric models |
| Freeterms: | Dynamic welfare |
| Language: | eng |
| Abstract: | A kind of "unified theory" is proposed as a dynamic generalization of the standard consumersurplus methodology for evaluating welfare changes. The "unified theory" allows rigorous dynamic welfare comparisons to be inferred between any two economic situations - from just knowing current incomes and observing a short-run market demand schedule. |
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