haku: @author Brekke, K. A. / yhteensä: 4
viite: 4 / 4
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| Tekijä: | Brekke, K. A. |
| Otsikko: | The numeraire matters in cost-benefit analysis |
| Lehti: | Journal of Public Economics
1997 : APR, VOL. 64:1, p. 117-123 |
| Asiasana: | COST BENEFIT ANALYSIS WELFARE PUBLIC GOOD |
| Kieli: | eng |
| Tiivistelmä: | This study demonstrates that the value of environmental quality will depend on the choice of numeraire, and that different choices favour different groups. The empirical example shows that a shift in numeraire corresponds to huge shifts in welfare weights. Even though efficiency and distribution cannot be separated in theory it may be thought that it is better to keep them apart. In the example discussed in the study distributional problems remain even though both consumers had the same income. Peoples with different tastes will prefer different social states and one particular choice of valuation principle will favor groups with particular types of preferences. |
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