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
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