el astic . ▁However , ▁H icks ▁analyz ed ▁the ▁situation ▁through ▁ind ifference ▁curves ▁and ▁noted ▁that ▁when ▁the ▁Marsh al li an ▁demand ▁curve ▁is ▁perfectly ▁in el astic , ▁the ▁policy ▁or ▁economic ▁situation ▁that ▁caused ▁a ▁dist ort ion ▁in ▁relative ▁prices ▁has ▁a ▁substitution ▁effect , ▁i . e . ▁is ▁a ▁dead weight ▁loss . ▁ ▁In ▁modern ▁economic ▁literature , ▁the ▁most ▁common ▁measure ▁of ▁a ▁tax p ayer ' s ▁loss ▁from ▁a ▁dist ort ion ary ▁tax , ▁such ▁as ▁a ▁tax ▁on ▁b icy cles , ▁is ▁the ▁equivalent ▁variation , ▁the ▁maximum ▁amount ▁that ▁a ▁tax p ayer ▁would ▁be ▁willing ▁to ▁for go ▁in ▁a ▁l ump ▁sum ▁to ▁avoid ▁the ▁dist ort ion ary ▁tax . ▁The ▁dead weight ▁loss ▁can ▁then ▁be ▁interpreted ▁as ▁the ▁difference ▁between ▁the ▁equivalent ▁variation ▁and ▁the ▁re venue ▁raised ▁by ▁the ▁tax . ▁The ▁difference ▁is ▁att rib utable ▁to ▁the ▁behavior al ▁changes ▁induced ▁by ▁a ▁dist ort ion ary ▁tax ▁that ▁are ▁measured ▁by ▁a ▁substitution ▁effect . ▁However , ▁that ▁is ▁not ▁the ▁only ▁interpretation , ▁and ▁Lind ▁and ▁Gran q v ist ▁( 2 0 1 0 ) ▁point ▁out ▁that ▁P ig ou ▁did ▁not ▁use ▁a ▁l ump ▁sum ▁tax ▁as ▁the ▁point ▁of ▁reference ▁to ▁discuss ▁dead weight ▁loss ▁( ex cess ▁bur den ). ▁ ▁Dead weight ▁loss ▁of ▁tax ation ▁▁ ▁When ▁a ▁tax ▁is ▁lev ied ▁on ▁buy ers , ▁the ▁demand ▁curve