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Paolo Delle Site |
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''On the expenditure function and welfare in random utility models'' |
( 2014, Vol. 34 No.1 ) |
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We extend the results on the cumulative distribution function and the expectation of the expenditure function in additive random utility models to cases of imperfect before-after correlation of the random terms, expenditure unrestricted in sign, and changing choice set. The results are of practical interest for welfare analysis. |
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Keywords: discrete choice, random utility, random expenditure, random compensating variation |
JEL: D1 - Household Behavior: General D6 - Welfare Economics: General |
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Manuscript Received : Jul 17 2013 | | Manuscript Accepted : Jan 30 2014 |
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