Econometrica Vol. 44 No. 6 1976
The Welfare Loss from Price Distortions
Abstract
[We generalize to directionally dense but otherwise arbitrary production the Foster-Sonneschein theorem that increases in price distortion reduce consumer welfare. No convexity assumptions appear as in another generalization due to Kawamata. The many consumer case is considered but found to be problematic.]
- DOI
- 10.2307/1914258
- Volume
- 44
- Issue
- 6
- Pages
- 1253
- Sources
- bibtex:phds-export.bib openalex crossref