Consumer’s Welfare and Price Uncertainty

  • Udo Ebert
Conference paper

Abstract

The measurement of welfare under price uncertainty is an issue economists discovered already some decades ago. Waugh (1944) investigated the benefits of price stabilization. He considered the consumer’s case. Oi (1961) explored the implications of price variability to expected profits. Massell (1969) integrated the consumer and producer sides of the picture. Recently Newbery and Stiglitz (1981,1982) extended that kind of analysis.

Keywords

Income 

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Copyright information

© Springer-Verlag Berlin · Heidelberg 1994

Authors and Affiliations

  • Udo Ebert
    • 1
  1. 1.Dept. of EconomicsUniversity of OldenburgOldenburgGermany

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