| 000 | 02310cam a22003497 4500 | ||
|---|---|---|---|
| 001 | w22864 | ||
| 003 | NBER | ||
| 005 | 20211020105102.0 | ||
| 006 | m o d | ||
| 007 | cr cnu|||||||| | ||
| 008 | 210910s2016 mau fo 000 0 eng d | ||
| 100 | 1 | _aSchlee, Edward. | |
| 245 | 1 | 4 |
_aThe Welfare Cost of Uncertainty in Policy Outcomes / _cEdward Schlee, V. Kerry Smith. |
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_aCambridge, Mass. _bNational Bureau of Economic Research _c2016. |
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_a1 online resource: _billustrations (black and white); |
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| 490 | 1 |
_aNBER working paper series _vno. w22864 |
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| 500 | _aNovember 2016. | ||
| 520 | 3 | _aThis paper proposes a simple index of the welfare significance of uncertainty in the public goods resulting as policy outcomes. Our measure is the ex ante compensation an individual would require to accept an uncertain level of service compared to receiving the expected value of the distribution of possible values for that service. Our compensation measure is a function of the coefficient of relative risk aversion, the variance in the measure of environmental service associated with policy and relevant for the individual, and a set of conventional parameters that describe the properties of nonmarket benefit measures under conditions of certainty. We would expect that the inverse virtual price elasticity of the for the environmental service and the square of the coefficient of relative variation are the primary factors influencing the size of our compensation index. | |
| 530 | _aHardcopy version available to institutional subscribers | ||
| 538 | _aSystem requirements: Adobe [Acrobat] Reader required for PDF files. | ||
| 538 | _aMode of access: World Wide Web. | ||
| 588 | 0 | _aPrint version record | |
| 690 | 7 |
_aH41 - Public Goods _2Journal of Economic Literature class. |
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| 690 | 7 |
_aQ50 - General _2Journal of Economic Literature class. |
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| 690 | 7 |
_aQ51 - Valuation of Environmental Effects _2Journal of Economic Literature class. |
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| 700 | 1 |
_aSmith, V. Kerry. _920936 |
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| 710 | 2 | _aNational Bureau of Economic Research. | |
| 830 | 0 |
_aWorking Paper Series (National Bureau of Economic Research) _vno. w22864. |
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| 856 | 4 | 0 | _uhttps://www.nber.org/papers/w22864 |
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_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w22864 |
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_2ddc _cW-PAPER |
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_c325258 _d283820 |
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