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Samples in periodicals archive:
Bailey's consumer's surplus formulae are derived and used to compute the welfare cost of inflation for both semi-log and log-log money demand functions.
If the consumer's surplus for good i is clearly larger than for any other good on the list, then it is probably that this opportunity cost could function somehow in the opposite direction, generating a thinking such as: "the good k seemed kind of expensive, anyway; instead of maintaining the quantity I buy constantly, I'd rather reduce it and direct the money towards good i, which has a more reasonable price".
1981) Exact Consumer's Surplus and Deadweight Loss.
The increase in wholesale price of wheat in Pakistan and resultantly decrease in quantity demanded would have caused a loss of consumer's surplus of Rs 12,557 million (using Equation 5 of the analytical framework in methodology).
In the fifth part I discuss some implications of the model for consumer's surplus and welfare.
This eliminates the need for price and cost data because the objective becomes zero consumer's surplus loss instead of profit maximization.