Measuring Market Efficiency and Welfare Loss

Authors:
  • WKWagner A. Kamakura
    Wagner A. Kamakura
  • BRBrian T. Ratchford
    Brian T. Ratchford
  • JAJagdish Agrawal
    Jagdish Agrawal
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Abstract
This study presents a general methodology capable of addressing a number of fundamental questions in consumer policy. Are consumers paying more than