Files
Download Full Text (5.3 MB)
Description
doi:10.13014/K2416V8V
This book presents a multi-market framework of market and policy analysis that explicitly accounts for the empirically relevant heterogeneity in consumer preferences and producer characteristics. The explicit consideration of consumer and producer heterogeneity represents a significant departure from the representative consumer and producer that have been at the center of most of the literature on market and policy analysis, and enables the distributional impacts of changes in market conditions and policies to be fully identified. The framework is used to analyze the system-wide market and welfare impacts of a number of changes in market conditions (like changes in consumer preferences, costs and market structure) and policies (like subsidies and taxes) on one of the products in the system. Consistent with a priori expectations, the use of the framework unveils impacts masked by the conventional market and policy analysis.
ISBN
978-1-60962-140-7
Publication Date
1-1-2019
Publisher
Zea Books
City
Lincoln, NE
Disciplines
Agricultural and Resource Economics | Behavioral Economics | Econometrics | Economics | Macroeconomics | Public Economics
Recommended Citation
Giannakas, Konstantinos, "Accounting for Agent Heterogeneity in Market and Policy Analysis" (2019). Zea E-Books Collection. 69.
https://digitalcommons.unl.edu/zeabook/69
Included in
Agricultural and Resource Economics Commons, Behavioral Economics Commons, Econometrics Commons, Macroeconomics Commons, Public Economics Commons
Comments
Copyright 2018 Konstantinos Giannakas.
Donation and download site: http://www.theheterogeneitybook.com/