Abstract
In this paper we estimate the Hicksian equivalent variation of consumer's surplus for a sample of public housing tenants and examine the distribution of these surpluses by household characteristics. To do this we estimate the parameters of a generalized CES utility function (imposing second order constraints as needed) and of a Cobb-Douglas utility function. The Cobb-Douglas specification is rejected statistically and benefit estimates based on it follow a significantly different distributional pattern than those estimated with the generalized CES, although there is not much difference in average benefits.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.