Functional Forms, Exogenous Shifts, and Economic Surplus Changes

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Xueyan Zhao; John D. Mullen; Gary R. Griffith;
  • Journal: American Journal of Agricultural Economics,volume 79,issue 4,pages1,243-1,251
  • Related identifiers: doi: 10.2307/1244281

Conditions for exact welfare measures in equilibrium displacement modeling are examined. These relate to the functional form of supply and demand, the nature of the exogenous shift, and the definition of percentage changes. Approximation errors when these conditions are... View more
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