Titlebook: General Equilibrium Foundation of Partial Equilibrium Analysis; Takashi Hayashi Book 2017 The Editor(s) (if applicable) and The Author(s)

Banister

聯(lián)想

–吃

The Assumption of No Income Effect and Quasi-linear Preferences,In the previous chapter, we saw various restrictions on preferences under which income evaluation of economic change provides welfare judgments which are consistent with individual utility maximization and maximization of individualistic social welfare functions.

傷心

Is the Approximation Error Large or Small?,In order that maximization of consumer surplus is consistent with individual preference maximization, the assumption of no income effect is required. Since this assumption cannot be met in an exact way, it is natural to ask how large is the error in estimating welfare because of that.

綁架

Libido

糾纏

crutch

978-3-319-85975-0The Editor(s) (if applicable) and The Author(s) 2017

thwart

洞察力