Welfare Economics: Introduction and Development of Basic Concepts |
Contents
INTRODUCTION | 1 |
PARETO OPTIMALITY | 42 |
APPENDIX 2B Pareto optimality of competitive equilibria | 56 |
Copyright | |
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Other editions - View all
Welfare Economics: Introduction and Development of Basic Concepts Yew-Kwang Ng No preview available - 1979 |
Common terms and phrases
achieve alternatives amount analysis Appendix argument Arrow Arrow's theorem aspect assume assumption better Clarke-Groves compensation competitive complicated constraint consumer surplus consumption demand curve discussed disincentive effect dollar efficiency equal equilibrium example external effects factors Figure first-best rule given Hence incentive income distribution income effects income taxation increase indifference curve individual orderings individual preferences individual utilities involved Little's criterion loss marginal rate marginal utility marginal valuation maximisation measure Mirrlees MV curve number of individuals optimum ordinal Pareto criterion Pareto optimality Pareto principle perfect competition Pigovian tax positive post-tax income preferential treatment problem production redistribution relevant rich Section social choice social ordering social welfare social welfare function take account tax schedule theorem theory of second third-best tion tive transaction costs utility function utility possibility value judgements welfare economics worse zero