Construct · 1 fields · 1 citations

compensating variation: a standalone construct

One name. One construct. A landmark on the map.

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Public economics

the income change that would leave a consumer as well off after a price change as before it, measured at the new prices.

In public economics, compensating variation refers to the income change that would leave a consumer as well off after a price change as before it, measured at the new prices. This meaning comes from Hicks (1943) in The Review of Economic Studies.[1]

Unit
Recovery means
Measured by

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Nearby constructs

equivalent variation1 fields · 1 citationsanchor · a standalone construct variation4 fields · 7 citationsjingle · one word, four constructs well2 fields · 2 citationsjingle · one word, two constructs

References

Hicks, J. R. (1943). The Four Consumer's Surpluses. The Review of Economic Studies, 11(1), 31. https://doi.org/10.2307/2967517

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