Autore: Hammond, Peter J.
Titolo: Digitised version produced by the EUI Library and made available online in 2020
Periodico: European University Institute of Badia Fiesolana (Fi). Department of Economics - Working papers
Anno: 1990 - Fascicolo: 19 - Pagina iniziale: 1 - Pagina finale: 32

Even with environmental externalities, money metric measures of individual welfare can often be constructed by methods similar to those of Vartia (1983), provided that individual’s willingness to pay functions are known. Satisfactory money metric measures of social welfare are harder, however. A new uniform money metric measure is proposed, based on the uniform poll subsidy (or tax) to all individuals which produces the same gain (or loss) in social welfare. Finally, problems with the definition of such measures when faced with “environmental catastrophe” are discussed.


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Testo completo: http://hdl.handle.net/1814/358

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