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Measuring the Welfare Gain from Personal Computers: A Macroeconomic Approach / Jeremy Greenwood, Karen A. Kopecky.
- Format:
- Book
- Author/Creator:
- Greenwood, Jeremy.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w13592.
- NBER working paper series no. w13592
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Other Title:
- Measuring the Welfare Gain from Personal Computers
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2007.
- Summary:
- The welfare gain to consumers from the introduction of personal computers is estimated here. A simple model of consumer demand is formulated that uses a slightly modified version of standard preferences. The modification permits marginal utility, and hence total utility, to be finite when the consumption of computers is zero. This implies that the good won't be consumed at a high enough price. It also bounds the consumer surplus derived from the product. The model is calibrated/estimated using standard national income and product account data. The welfare gain from the introduction of personal computers is in the range of 2 to 3 percent of consumption expenditure.
- Notes:
- Print version record
- November 2007.
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