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Valuing a new good

Blow, L.; Crawford, I.; (2004) Valuing a new good. (IFS Working Papers W04/03). Institute for Fiscal Studies: London, UK. Green open access

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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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