Title of article :
What Is Consumer′s Surplus Per Day of Use, When Is It a Constant Independent of the Number of Days of Use, and What Does It Tell Us about Consumers Surplus?
Author/Authors :
Morey Edward R.، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 1994
Pages :
14
From page :
257
To page :
270
Abstract :
An individual′s consumer′s surplus per day of use for a change in the price of recreational site is the price change, so it is a constant, independent of the number of days of use. Consumer′s surplus per day of use for a change in a site′s characteristics is not, in general, a constant. When a constant compensating variation per day of use exists, it multiplied by the number of days at the site in the original state (proposed state) bounds the compensating variation, CV, from below (above). The average of these two approximations is an almost second-order approximation to the CV. Simulations indicate the approximation biases can be large.
Journal title :
Journal of Environmental Economics and Management
Serial Year :
1994
Journal title :
Journal of Environmental Economics and Management
Record number :
703472
Link To Document :
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