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May 16, 2026AEA Papers and Proceedings

Quasilinearity and Its Discontents: Public-Good Regulation with Consumer Risk Aversion and Income Effects

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Authors

ESEdward E. Schlee

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Overview

Review and extend regulation outcomes under risk aversion and income effects, indicating implications for policy.

Key Points

  • This research examines how risk aversion and income effects impact social welfare and regulatory policies.
  • Reviewed literature on social welfare measures in regulation.
  • Extended analysis of Weitzman’s results on prices versus quantities.
  • Presented preliminary findings on optimal regulatory policies for risk-averse consumers.
  • Risk aversion and income effects alter expected social welfare outcomes significantly.
  • Optimal regulation strategies should not be limited to just prices or quantities.
  • New insights suggest a more nuanced approach to public-good regulation is necessary.

Cite This Study

Edward E. Schlee (2026) studied this question.

synapsesocial.com/papers/6a0809bea487c87a6a40b84dhttps://doi.org/10.1257/pandp.20261065
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