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ON THE RELATION BETWEEN HICKSIAN SURPLUS AND TRUE COST‐OF‐LIVING INDICES
Author(s) -
Dodgson J. S.
Publication year - 1982
Publication title -
bulletin of economic research
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.227
H-Index - 29
eISSN - 1467-8586
pISSN - 0307-3378
DOI - 10.1111/j.1467-8586.1982.tb00440.x
Subject(s) - economics , relation (database) , econometrics , economic surplus , measure (data warehouse) , relevance (law) , constant (computer programming) , microeconomics , mathematical economics , computer science , welfare , database , political science , law , market economy , programming language
This note demonstrates how recent results in the literature on true cost‐of‐living indices are of direct relevance to attempts to measure Hicks’compensating and equivalent variations because of the close inter‐relationship between the Hicksian surplus measures and true (or constant‐utility) price indices.