SFB 303 Discussion Paper No. B - 208

Author: Reinhard Selten and Eyal Winter
Title: An Axiomatic Approach to Consumers' Welfare
Abstract: This paper addresses the issue of consumers' welfare using an axiomatic approach, and avoiding the assumption of utility maximization. We thus take the demand function as a primitive, and construct a measure for the consumers' welfare from a change of prices. This is done by imposing a set of axioms on this measure which uniquely determines the measure.
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Creation-Date: February 1992
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