CIRJE-F- 555. Ohashi, Hiroshi, "How to Measure the Outcome of Innovations: Application to Product Innovations", April 2008.

This paper provided a conceptual framework to quantify consumer gains from product innovations. Using an example of VCRs, we illustrate a model that is useful to measure consumer welfare, and describe what data are to be used for the analysis. We also make a selective survey of papers that measure the consumer welfare of product innovations and discuss advantages and limitations of the analytical framework.