Consumer Welfare Effects of Quantity Changes in Demand

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Information about consumer welfare effects associated with quantity changes in demand is important for agricultural and food policy decision-makers because many policy options are directly related to controlling supplies as a means to stabilize or raise commodity prices and farmers’ income. A new method is developed to measure the consumer welfare effects by using the estimates of an inverse demand system and a modified quantity-adjusted Malmquist index to represent the efficiency in quantity metric welfare. The methodology is validated by applying it to a U.S. inverse food demand system consisting of 13 food groups and a nonfood sector.

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http://hdl.handle.net/123456789/584535

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https://ageconsearch.umn.edu/record/149102/files/jaae577.pdf

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University of Minnesota