General equilibrium analysis of market and nonmarket goods /
| Main Author: | |
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| Other Authors: | , , |
| Format: | Thesis Book |
| Language: | English |
| Published: |
1990.
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| Subjects: | |
| Online Access: | ProQuest, Abstract Link to OAKTrust copy |
| Abstract: | Most nonmarket valuation and cost benefit procedures have emphasized estimating values for use in benefit cost analysis of policies in a partial equilibrium context. Since nonmarket goods are not exchanged in the marketplace, they are often regarded as strongly separable from market goods. However, changes in the nonmarket good sector are likely to affect individual's consumption choices through substitution and/or complementary relations with market goods. Therefore, based on the assumption of non-separability between market and nonmarket goods, this study considers three cases, (1) consumption of a nonmarket good, (2) consumption and factor use of a nonmarket good, and (3) consumptive and factor use of multiple nonmarket goods. Each case is examined for the changes in the competitive equilibrium state with respect to market goods when there is a change in the nonmarket good sector. Possibilities to provide efficient quantities of different types of nonmarket goods are discussed. The impacts of alternative ways of nonmarket good provision on market good equilibria are compared. Analysis of policy impacts indicates that competitive equilibria change depending upon the nature of substitution and complementary relationships between market and nonmarket goods, and the degree of those relationships. Direction of changes in excess demand curves and prices under the three cases can be similar but the magnitudes are different from each other. |
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| Item Description: | Typescript (photocopy). Vita. "Major subject: Agricultural economics." |
| Physical Description: | x, 124 leaves : illustrations ; 29 cm |
| Bibliography: | Includes bibliographical references. |