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- Title
A NOTE ON PRICE STABILITY AND CONSUMERS' WELFARE.
- Authors
Baye, Michael R.
- Abstract
The article extends the Turnovsky, Shalit, and Schmitz (T-S-S) and Newbery-Stiglitz analysis of the effects of commodity price stabilization on an individual consumer's welfare. It also compares partial price stabilization policies that affect multiple prices in non-mean preserving ways. The approach of T-S-S provides useful information about an individual's preference for or against price but failed to provide information about a group of heterogeneous consumers' preference for price stability. Newbery and Stiglitz have used stochastic dominance rules to examine mean preserving partial price stabilization schemes.
- Subjects
CONSUMER attitudes; CONSUMER preferences; PRICES; CONSUMER behavior; PRODUCT acceptance; WELFARE economics; PRICE maintenance; COMMERCIAL products; PRICING
- Publication
Econometrica, 1985, Vol 53, Issue 1, p213
- ISSN
0012-9682
- Publication type
Article
- DOI
10.2307/1911734