scholarly journals Hicksian Welfare Measures and the Normative Endowment Effect

2010 ◽  
Author(s):  
Thomas A. Weber
Keyword(s):  
Endowment Effect ◽  
Welfare Measures ◽  
Hicksian Welfare

scholarly journals Hicksian Welfare Measures and the Normative Endowment Effect

2010 ◽  
Vol 2 (4) ◽  
pp. 171-194 ◽  
Author(s):  
Thomas A Weber
Keyword(s):  
Utility Function ◽  
Sufficient Conditions ◽  
Endowment Effect ◽  
Indirect Utility ◽  
Compensating Variation ◽  
Equivalent Variation ◽  
Indirect Utility Function ◽  
Welfare Measures ◽  
Empirical Implications ◽  
Hicksian Welfare

We show that the Hicksian welfare measures of compensating variation and equivalent variation coincide if one of them is evaluated at a compensated income. The measures are nondecreasing in income if the varied attribute and income are complementary, and indirect utility is concave in income. Income monotonicity implies the normative endowment effect, where the equivalent variation exceeds the compensating variation. We provide sufficient conditions for the normative endowment effect and discuss empirical implications. In the global absence of a strict (anti-) endowment effect, both Hicksian welfare measures must be independent of income and the indirect utility function additively separable in income. (JEL D11, D63)

Estimating Four Hicksian Welfare Measures for a Public Good: A Contingent Valuation Investigation

2000 ◽  
Vol 76 (3) ◽  
pp. 355 ◽  
Author(s):  
Ian J. Bateman ◽  
Ian H. Langford ◽  
Alistair Munro ◽  
Chris Starmer ◽  
Robert Sugden
Keyword(s):  
Contingent Valuation ◽  
Public Good ◽  
Welfare Measures ◽  
Hicksian Welfare

scholarly journals Hicksian Welfare Measures within a Regret Theory Framework

1988 ◽  
Vol 70 (5) ◽  
pp. 1100-1106 ◽  
Author(s):  
James J. Opaluch ◽  
Kathleen Segerson
Keyword(s):  
Regret Theory ◽  
Welfare Measures ◽  
Theory Framework ◽  
Hicksian Welfare

Unpacking the endowment effect from experience

2014 ◽  
Author(s):  
Thorsten Pachur ◽  
Benjamin Scheibehenne
Keyword(s):  
Endowment Effect
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