Download or read book Prices and Welfare written by Abdelkrim Araar and published by Springer. This book was released on 2019-07-17 with total page 98 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a general framework for the use of theoretical contributions in empirical works, addressing the question of what is the effect of a price change on household well-being. This simple question is one of the most relevant and controversial questions in microeconomic theory and one of the main sources of errors in empirical economics. In particular, this book aims to 1) Review the essential microeconomics literature since the first seminal papers by Hicks in the 1930s; 2) Organize and simplify this literature in a way that can be easily used by analysts with different backgrounds providing algebraic, geometric and computational illustrations; 3) identify and measure the essential differences across methods and test how these differences affect empirical results; 4) Provide guidelines for the use of alternative approaches under imperfect information on utility, demand systems, elasticities and more generally incomes and quantities; 5) Provide computational codes in Stata for the application of all methods. The focus of the book is on developing economies and the poor, and the assumptions made will relate primarily to these countries and group of people, presumably the main policy focus of international organizations and national governments.
Download or read book The Human Cost of Welfare written by Phil Harvey and published by Bloomsbury Publishing USA. This book was released on 2016-02-25 with total page 163 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why is the welfare system failing to work for so many people? This book examines the problems with the current welfare system and proposes reforms to create a smarter, smaller system that helps people improve their lives through rewarding work. Unlike other books on welfare, this one draws on the stories of more than 100 welfare recipients who are trapped in a system that keeps them underemployed and unemployed. The authors present case studies that show that being a part of a welfare program can actively result in the recipient having to limit their job efforts for fear of losing government assistance. The book examines all major U.S. welfare systems, including Temporary Assistance for Needy Families, SNAP, Medicaid, and others. The authors begin by exploring the nation's basic poverty issues and examining the relationship between work and happiness. Next, they zero in on specific welfare programs, reporting both on their dollar costs and on the ways that they fail enrollees. The book then concludes with strategies for addressing the shortcomings of the current U.S. welfare system. This book is appropriate for readers interested in public policy, government programs, welfare, and cultural shifts in America. It adds a new perspective to the existing body of welfare scholarship by systematically assessing the impact of welfare on the receivers themselves.
Download or read book An Introduction to Modern Welfare Economics written by Per-Olov Johansson and published by Cambridge University Press. This book was released on 1991-08-22 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is the first book in welfare economics to be primarily intended for undergraduates and non-specialists. Concepts such as Pareto optimality in a market economy, the compensation criterion, and the social welfare function are explored in detail. Market failures are analysed by using different ways of measuring welfare changes. The book also examines public choice, and the issues of provision of public goods, median voter equilibrium, government failures, efficient and optimal taxation, and intergenerational equity. The three final chapters are devoted to applied welfare economics: methods for revealing people's preferences, cost-benefit analysis, and project evaluation in a risky world. The book is intended for introductory and intermediate courses in welfare economics, microeconomics, and public economics. It will also be suitable for courses in health economics, environmental economics, and cost-benefit analysis, as well as those undertaking project evaluations in government agencies and private firms.
Download or read book Applied Welfare Economics written by Massimo Florio and published by Routledge. This book was released on 2014-02-05 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the effect of a new infrastructure on the well-being of a local community? Is a tax reform desirable? Does the privatization of a telecommunication provider increase social welfare? To answer these questions governments and their policy advisors should have in mind an operative definition of social welfare, and cannot rely on simple official statistics, such as GDP. The price we observe are often misleading as welfare signals, and costs and benefits for the society should be based on ‘shadow prices’, revealing the social opportunity costs of goods and of changes of the world. This book explains how to apply these welfare economics ideas to the real world. After a theoretical discussion of the concept of social welfare, a critical analysis of the traditional doctrine of welfare economics embodied in the Two Fundamental Theorems, and a presentation of social cost-benefit analysis, the book introduce the readers to an applied framework. This includes the empirical estimation of shadow prices of goods, of the social cost of labour and capital, the assessment of risk. This book also includes the state of the art of international experience with CBA, including ex-post evaluation of major projects, economic rates of return in different sectors, and a case study on privatisation, is presented. This book offers a unique and original blend of theory, empirics and experience. The theoretical discussion clarifies why shadow prices are not virtual market equilibrium prices, as they arise as the solution of a planning problem, often with governments and economic agents constrained in their information and powers. The empirical chapters show how to compute proxies of the shadow prices in simple ways. The experience chapters draw from first hand research, gained by the Author and his collaborators over many years of advisory work for the European Commission and other international and national institutions.
Download or read book Measuring Economic Welfare written by George W. McKenzie and published by Cambridge University Press. This book was released on 1983-03-10 with total page 201 pages. Available in PDF, EPUB and Kindle. Book excerpt: Professor McKenzie proposes and formulates a method composed of operational procedures designed to facilitate the evaluation of economic projects and policies. This method is discussed fully, illustrated by simple examples, and compared with alternative procedures. An outline of a computer program that enables readers to undertake their own calculations is included. In order to present the approach clearly, the author provides an exposition of the fundamental ideas and the main alternative approaches to the problem. These rely on various forms of index numbers and consumer surplus. However, as is well known, such measures are not capable of correctly ordering the various alternatives under consideration, except under highly unrealist assumptions. In this book the author suggests the abandonment of this traditional approach based on the concept of 'willingness-to-pay' or the conpensating variation. Instead, the measure that Samuelson has called the 'money-metric' should become the cornerstone of applied welfare economics.
Download or read book The Economics of Welfare written by Arthur Cecil Pigou and published by Transaction Publishers. This book was released on 2000 with total page 948 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Human Cost of Welfare written by Phil Harvey and published by Praeger. This book was released on 2016-02-25 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Resource added for the Psychology (includes Sociology) 108091 courses.
Download or read book The Welfare Implications of Marginal Cost pricing written by Elmer L. Letts and published by . This book was released on 1968 with total page 194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Myth of Social Cost written by and published by Arcadia Press Ltd.. This book was released on 2002 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Cost analysis its purposes methods and limitations by the California State Dept of Social Welfare written by California. Department of Social Welfare and published by . This book was released on 1962 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Applied Welfare Economics written by Massimo Florio and published by . This book was released on 2014 with total page 412 pages. Available in PDF, EPUB and Kindle. Book excerpt: What is the effect of a new infrastructure on the well-being of a local community? Is a tax reform desirable? Does the privatization of a telecommunication provider increase social welfare? To answer these questions governments and their policy advisors should have in mind an operative definition of social welfare, and cannot rely on simple official statistics, such as GDP. The price we observe are often misleading as welfare signals, and costs and benefits for the society should be based on 'shadow prices', revealing the social opportunity costs of goods and of changes of the world. This book explains how to apply these welfare economics ideas to the real world. After a theoretical discussion of the concept of social welfare, a critical analysis of the traditional doctrine of welfare economics embodied in the Two Fundamental Theorems, and a presentation of social cost-benefit analysis, the book introduce the readers to an applied framework. This includes the empirical estimation of shadow prices of goods, of the social cost of labour and capital, the assessment of risk. This book also includes the state of the art of international experience with CBA, including ex-post evaluation of major projects, economic rates of return in different sectors, and a case study on privatisation, is presented. This book offers a unique and original blend of theory, empirics and experience. The theoretical discussion clarifies why shadow prices are not virtual market equilibrium prices, as they arise as the solution of a planning problem, often with governments and economic agents constrained in their information and powers. The empirical chapters show how to compute proxies of the shadow prices in simple ways. The experience chapters draw from first hand research, gained by the Author and his collaborators over many years of advisory work for the European Commission and other international and national institutions.
Download or read book The Rate and Direction of Inventive Activity written by National Bureau of Economic Research and published by Princeton University Press. This book was released on 2015-12-08 with total page 647 pages. Available in PDF, EPUB and Kindle. Book excerpt: The papers here range from description and analysis of how our political economy allocates its inventive effort, to studies of the decision making process in specific industrial laboratories. Originally published in 1962. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.
Download or read book Welfare Analysis of Dynamic Pricing written by Ningyuan Chen and published by . This book was released on 2018 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dynamic pricing is designed to increase revenues or profits of the firm by adjusting prices in response to changes in the marginal value of capacity as described in Gallego and van Ryzin (1994). While thousands of papers have been written about dynamic pricing, this is to our knowledge the first paper to examine the impact of dynamic pricing in Gallego and van Ryzin (1994) on social welfare and consumers' surplus. We present a dynamic pricing formulation designed to maximize welfare and show that the optimal policy has the same structural property as the revenue-maximizing dynamic pricing policy. For sufficiently constrained systems, we show that the revenue maximizing dynamic pricing policy and the market clearing price are both asymptotically optimal for welfare. We also find that in most cases dynamic pricing improves consumers' surplus compared to the optimal static price for a revenue-maximizing firm. Our findings can potentially change the public image of dynamic pricing, and lead to rich managerial insights as well as policy implications: (1) for large-scale systems with scarce capacity, the central planner and a monopoly firm would essentially implement the same pricing policy; (2) a revenue-maximizing dynamic pricing policy can benefit customers when the demand elasticity is in a small bounded interval as is the case for several important demand functions.
Download or read book Cost and Time Studies in Child Welfare and Related Subjects written by Project on Cost Analysis in Children's Institutions and published by . This book was released on 1965 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book On Price Stability and Welfare written by Mr.Etienne B. Yehoue and published by International Monetary Fund. This book was released on 2012-07-01 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis in the advanced countries that began in 2007 has led central bankers to adopt unconventional policy measures as policy interest rates neared the zero bound. One suggestion (Blanchard, Dell’Ariccia, and Mauro, 2010) has been to raise inflation targets to provide more room for policy rate easing during crises. This paper addresses a different issue: the relationship between inflation and welfare. The literature is surveyed and a model is developed. A key conclusion is that an increase in inflation targets gives rise to additional welfare costs, even after the extra room to maneuver above the zero lower bound for nominal policy rates is taken into account. Based on parameter values that fit U.S. data, the additional welfare costs of raising inflation targets from 2 to 4 percent are estimated at about 0.3 percent of annual real income. A rise to 10 percent would yield additional welfare costs of about 1 percent of real income. Other parameter values yield welfare costs as high as 7 (respectively 30) percent of real income for raising inflation targets from 2 to 4 (respectively from 2 to 10) percent. The full costs of raising inflation targets are likely to be higher because the model used to generate these estimates does not account for higher inflation-induced volatility.
Download or read book Applied Welfare Economics written by Massimo Florio and published by Taylor & Francis. This book was released on 2022-08-30 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: Applied Welfare Economics: Cost-Benefit Analysis for Project and Policy Evaluation presents a consistent framework for applied welfare economics and is grounded in a comprehensive theory of cost-benefit analysis, specifically focused on offering a practical approach to policy and project evaluation. After opening with a theoretical discussion of the concept of social welfare, a critical analysis of the traditional doctrine of welfare economics embodied in the Two Fundamental Theorems, and a presentation of social cost-benefit analysis, the book introduces readers to an applied framework. This includes the empirical estimation of shadow prices of goods, the social cost of labour and capital, and the assessment of risk. The book also examines real-life experiences with cost-benefit analysis, including ex-post evaluation of major projects, economic rates of return in different sectors, and a case study on privatisation. These chapters draw on first-hand research gained by the author team from years of advisory work for the European Commission and other international and national institutions. This second edition presents updated data, more international examples, and more coverage of topics such as very long run discounting effects and climate change as an intergenerational effect. It also includes more practical examples and end-of-chapter questions to aid student’s learning. Applied Welfare Economics is a valuable textbook for upper-level courses on welfare economics, cost-benefit analysis, public policy analysis and related areas.
Download or read book Prices and Welfare written by Abdelkrim Araar and published by Palgrave Pivot. This book was released on 2019-07-29 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a general framework for the use of theoretical contributions in empirical works, addressing the question of what is the effect of a price change on household well-being. This simple question is one of the most relevant and controversial questions in microeconomic theory and one of the main sources of errors in empirical economics. In particular, this book aims to 1) Review the essential microeconomics literature since the first seminal papers by Hicks in the 1930s; 2) Organize and simplify this literature in a way that can be easily used by analysts with different backgrounds providing algebraic, geometric and computational illustrations; 3) identify and measure the essential differences across methods and test how these differences affect empirical results; 4) Provide guidelines for the use of alternative approaches under imperfect information on utility, demand systems, elasticities and more generally incomes and quantities; 5) Provide computational codes in Stata for the application of all methods. The focus of the book is on developing economies and the poor, and the assumptions made will relate primarily to these countries and group of people, presumably the main policy focus of international organizations and national governments.
