Welfare Economics and Social Choice Theory

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Martinus Nijhoff Pub., Jan 1, 1980 - Business & Economics - 230 pages
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Welfare economics, and social choice theory, are disciplines that blend economics, ethics, political science, and mathematics. Welfare Economics and Social Choice Theory, 2nd Edition, include models of economic exchange and production, uncertainty, optimality, public goods, social improvement criteria, life and death choices, majority voting, Arrowa (TM)s theorem, and theories of implementation and mechanism design. Our goal is to make value judgments about economic and political mechanisms: For instance, does the competitive market produce distributions of products and services that are good or bad for society? Does majority voting produce good or bad outcomes? How can we design tax mechanisms that result in efficient amounts of public goods being produced? We have attempted, in this book, to minimize mathematical obstacles, and to make this field accessible to undergraduate and graduate students and the interested non-expert.

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References to this book

On Ethics and Economics
Amartya Sen
No preview available - 1991
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About the author (1980)

Roberto Serrano is Harrison S. Kravis University Professor aAllan M. Feldman is Professor Emeritus of Economics at Brownt Brown University, Rhode Island, and Research Associate at University. His research has appeared in the Review of Econthe Madrid Institute for Advanced Studies, Spain. He has conomic Studies, Econometrica, the American Economic Review, Putributed to different areas in microeconomic theory and gameblic Choice, the Journal of Economic Theory, the American La theory and his research has been published in leading journw and Economics Review and other journals. He is co-author (als including Econometrica, the Journal of Political Economywith Roberto Serrano) of Welfare Economics and Social Choice, the Review of Economic Studies, the Journal of Economic Th Theory, 2nd edition (2006). Professor Feldman taught economeory, Games and Economic Behavior and the SIAM Review. He haics at Brown University for thirty-eight years, including ths received prestigious fellowships and prizes, including thee intermediate microeconomics course. He was director of und Alfred P. Sloan Foundation Fellowship in 1988 and the Fundaergraduate studies in the Economics Department at Brown for ci n Banco Herrero Prize in 2004, awarded to the best Spanisnearly fifteen years. h economist under forty. He is managing editor of Economics Letters and the associate editor of the International Journal of Game Theory and Mathematical Social Sciences. At Brown, he was director of graduate studies from 2006 to 2012 and has served as economics department chair since 2010.

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