A note on decisions under uncertainty: the impact of the choice of the welfare measure
The paper addresses the question, how policy decisions under uncertainty depend on the underlying welfare concept. We study three different welfare measures: The first is directly based on the ex ante (expected) utility of a representative consumer whereas the second relies on an ex ante and the thi...
|Journal Title:||Theory and Decision|
|Authors and Corporations:|
|In:||Theory and Decision, 51, 2001, 1, p. 51-71|
|Type of Resource:||E-Article|
Kluwer Academic Publishers