Divergence in alternative Hicksian welfare measures: the case of revealed preference for public amenities
研究住房相关的非交易设施改善的两种希克斯福利度量之间的差异，通过理论推导和享乐两阶段法实证发现，实际市场中数量变化的差异较小，且替代效应越大差异越小。
Abstract This paper investigates the divergence between the two Hicksian welfare measures of non‐traded amenity improvement associated with housing. First, the Hicksian surplus measures for amenity changes are analytically developed based on explicit specification of utility structures. A hedonic two‐stage approach is then applied to empirically show that, for quantity changes, in contrast to hypothetical markets, divergence in real market is small. The paper also analytically develops expressions for the income and substitution effects and empirically shows that for a given income effect, the greater the substitution effect the smaller the divergence between the two measures. Copyright © 2002 John Wiley & Sons, Ltd.