Household willingness to pay and income pooling: A comment |
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| Authors: | Udo Ebert |
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| Institution: | 1. School of Energy and Environment Science, Yunnan Normal University, Kunming, 650500, China;2. Photoelectric Engineering College, Yunnan Open University, Kunming, 650092, China;1. Department of Developmental, Personality and Social Psychology, Ghent University, Ghent, Belgium;2. Department of Data Analysis, Ghent University, Ghent, Belgium;3. Department of Public Health, Ghent University, Ghent, Belgium |
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| Abstract: | We demonstrate some problems with Munro 2005 (“Household willingness to pay equals individual willingness to pay if and only if the household income pools”, Economics Letters 88, 227-230). Furthermore, we reconsider income pooling in a slightly changed framework and prove: Income pooling implies that household willingness to pay is equal to minimal individual willingness to pay. The converse is not true. |
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