Welfare Analysis with Complementarities: When Direct and Total Responses Are Sufficient -- by David Argente

I would like to thank Fernando Alvarez, Eduardo Dávila, Jim Levinsohn, Mushfiq Mobarak, Diana Van Patten, and Seth Zimmerman for helpful comments and discussions. First draft: August 2026. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.