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来源类型Working Paper
规范类型报告
DOI10.3386/w22864
来源IDWorking Paper 22864
The Welfare Cost of Uncertainty in Policy Outcomes
Edward Schlee; V. Kerry Smith
发表日期2016-11-28
出版年2016
语种英语
摘要This paper proposes a simple index of the welfare significance of uncertainty in the public goods resulting as policy outcomes. Our measure is the ex ante compensation an individual would require to accept an uncertain level of service compared to receiving the expected value of the distribution of possible values for that service. Our compensation measure is a function of the coefficient of relative risk aversion, the variance in the measure of environmental service associated with policy and relevant for the individual, and a set of conventional parameters that describe the properties of nonmarket benefit measures under conditions of certainty. We would expect that the inverse virtual price elasticity of the for the environmental service and the square of the coefficient of relative variation are the primary factors influencing the size of our compensation index.
主题Public Economics ; Public Goods ; Environmental and Resource Economics ; Environment
URLhttps://www.nber.org/papers/w22864
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/580538
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GB/T 7714
Edward Schlee,V. Kerry Smith. The Welfare Cost of Uncertainty in Policy Outcomes. 2016.
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