Blow, L.;
Crawford, I.;
(2004)
Valuing a new good.
(IFS Working Papers
W04/03).
Institute for Fiscal Studies: London, UK.
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Abstract
This paper presents a nonparametric method for calculating a lower bound on the virtual or reservation price of a new good. This allows the welfare effects of product market innovations to be investigated. We illustrate the technique using consumer panel data.
| Type: | Working / discussion paper |
|---|---|
| Title: | Valuing a new good |
| Open access status: | An open access version is available from UCL Discovery |
| Publisher version: | http://dx.doi.org/10.1920/wp.ifs.2004.0403 |
| Language: | English |
| Keywords: | JEL classification: C43, D11. New goods, revealed preference |
| UCL classification: | UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery.ucl.ac.uk/id/eprint/2902 |
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