scholarly journals Hicksian Surplus Measures of Individual Welfare Change When There is Price and Income Uncertainty

2008 ◽  
pp. 195-213
Author(s):  
Charles Blackorby ◽  
David Donaldson ◽  
John A. Weymark
Keyword(s):  
Income Uncertainty ◽  
Welfare Change ◽  
Individual Welfare

Cost-Benefit Analysis

2016 ◽  
Author(s):  
Robin Boadway
Keyword(s):  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Project Evaluation ◽  
Benefit Analysis ◽  
Normative Approach ◽  
Welfare Change ◽  
Individual Welfare ◽  
It Application ◽  
Welfare Changes ◽  
Conceptual Difficulties

This is an overview of the methods used to evaluate projects or policies when a normative approach is taken based on individual preferences. The evaluation of individual welfare change is first outlined and related to the concepts of willingness-to-pay and willingness-to-accept. The use of individual welfare measures in project evaluation is outlined. This is followed by approaches to aggregating individual welfare changes. The case for ignoring equity considerations based on the compensation criterion is critically discussed. The use of a social welfare function for cost-benefit analysis is presented, and it application to project evaluation outlined. Several extensions are considered, including the evaluation of non-marketed commodities, the treatment of uncertainty, and multi-period project evaluation. Throughout, the conceptual difficulties of measuring and aggregating welfare change are emphasized.

Optimal Savings Liquidation for Income Replacement in the Presence of Income Uncertainty

CFA Digest ◽  
2008 ◽  
Vol 38 (3) ◽  
pp. 78-79
Author(s):  
Brendan F. O’Connell
Keyword(s):  
Income Uncertainty

scholarly journals Market-based instruments for risk-averse farmers: rubber agroforest conservation in Jambi Province, Indonesia

2016 ◽  
Vol 22 (2) ◽  
pp. 133-155 ◽  
Author(s):  
Utkur Djanibekov ◽  
Grace B. Villamor
Keyword(s):  
Income Inequality ◽  
Risk Aversion ◽  
Real Options ◽  
Risk Averse ◽  
Variance Model ◽  
Income Uncertainty ◽  
Real Options Approach ◽  
Pigovian Taxes ◽  
Rubber Agroforest ◽  
Mean Variance

AbstractThis paper investigates the effectiveness of different market-based instruments (MBIs), such as eco-certification premiums, carbon payments, Pigovian taxes and their combination, to address the conversion of agroforests to monoculture systems and subsequent effects on incomes of risk-averse farmers under income uncertainty in Indonesia. For these, the authors develop a farm-level dynamic mean-variance model combined with a real options approach. Findings show that the conservation of agroforest is responsive to the risk-aversion level of farmers: the greater the level of risk aversion, the greater is the conserved area of agroforest. However, for all risk-averse farmers, additional incentives in the form of MBIs are still needed to prevent conversion of agroforest over the years, and only the combination of MBIs can achieve this target. Implementing fixed MBIs also contributes to stabilizing farmers’ incomes and reducing income risks. Consequently, the combined MBIs increase incomes and reduce income inequality between hardly and extremely risk-averse farmers.

Consumer's Surplus and Welfare Change in a Simple Dynamic Model

1984 ◽  
Vol 51 (1) ◽  
pp. 171 ◽  
Author(s):  
Charles Blackorby ◽  
David Donaldson ◽  
David Moloney
Keyword(s):  
Dynamic Model ◽  
Welfare Change

Academic Tenure, Income Uncertainty, and Real Estate Risk-Taking

2021 ◽  
pp. 1-22
Author(s):  
Stuart J. Fowler ◽  
Sean Salter ◽  
Cayman Seagraves ◽  
Philip Seagraves
Keyword(s):  
Real Estate ◽  
Risk Taking ◽  
Income Uncertainty ◽  
Academic Tenure
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