Consumer's Surplus and Welfare Change in a Simple Dynamic Model
证明，对于偏好由连续递增跨期效用函数表示的消费者，瞬时等价或补偿变动的折现总和（经推广以允许支出变化）并非精确的福利指标。
This paper shows that the discounted sum of instantaneous equivalent or compensating variations (generalized to allow for expenditure changes) is never an exact welfare indicator for a consumer whose preferences are represented by a continuous, increasing inter-temporal utility function.