Measuring consumerwelfareinthe CPU market: anapplication of the pure‐characteristics demand model
使用纯特征需求模型估计个人电脑CPU的需求，并测量消费者福利。结果显示消费者剩余约占社会总剩余的90%，新产品引入带来了巨大的福利增益。
In this article, I estimate demand for the personal computer central processing unit and measure consumer welfare using the pure characteristics demand model. The model is based on a quasilinear utility function with multiplicative random variables and does not have the idiosyncratic logit error term, so that consumer welfare directly reflects consumers' valuation of product characteristics. Welfare calculations show that consumer surplus comprises approximately 90% of total social surplus and that large welfare gains have resulted from the introduction of new products.