Abstract
The measurement of welfare under price uncertainty is an issue economists discovered already some decades ago. Waugh (1944) investigated the benefits of price stabilization. He considered the consumer’s case. Oi (1961) explored the implications of price variability to expected profits. Massell (1969) integrated the consumer and producer sides of the picture. Recently Newbery and Stiglitz (1981,1982) extended that kind of analysis.
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© 1994 Springer-Verlag Berlin · Heidelberg
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Ebert, U. (1994). Consumer’s Welfare and Price Uncertainty. In: Eichhorn, W. (eds) Models and Measurement of Welfare and Inequality. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-79037-9_33
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DOI: https://doi.org/10.1007/978-3-642-79037-9_33
Publisher Name: Springer, Berlin, Heidelberg
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