Radner’s cost–benefit analysis in the small: A correction and new equivalences

C-Tier
Journal: Economics Letters
Year: 2018
Volume: 172
Issue: C
Pages: 31-33

Score contribution per author:

1.005 = (α=2.01 / 1 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Schlee (2013) asserts the equivalence between a local welfare measure proposed by Radner (1993) and the derivatives of six other welfare measures. The asserted equivalence between Radner’s measure and one of these – Debreu’s (1951) coefficient of resource utilization – is false. What is the case is that the other six local welfare measures are equivalent to a modification of Debreu’s coefficient that applies to economies with distortions.

Technical Details

RePEc Handle
repec:eee:ecolet:v:172:y:2018:i:c:p:31-33
Journal Field
General
Author Count
1
Added to Database
2026-01-29