Download or read book The difference between the Pareto and the Kaldor Hicks standard of efficiency written by Simon Valentin and published by GRIN Verlag. This book was released on 2019-07-29 with total page 11 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seminar paper from the year 2018 in the subject Politics - Political Theory and the History of Ideas Journal, grade: 1,3, University of Toronto (Munk School of Global Affairs and Public Policy), language: English, abstract: In this essay, I will first describe the Pareto and the Kaldor-Hicks standard of efficiency. I will then elaborate on the relationship and the differences between the two concepts and finally investigate how the acceptance and application of the two standards shape evaluation and justification in state action.

Download or read book The Welfare Economics of Public Policy written by Richard E. Just and published by Edward Elgar Publishing. This book was released on 2005-01-01 with total page 706 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Welfare Economics of Public Policy is a great book that should be of interest to all economists interested in applied welfare analysis. It is a good reference book for economists studying the effects of public policy. Finally, it should be a useful textbook for students studying economic policy and applied welfare economics. Jean-Paul Chavas, American Journal of Agricultural Economics . . . a very comprehensive overview of the state of the art in welfare economics. It can be used as a teaching book for advanced students as well as a reference volume for researchers. This duality of possible uses is supported by the fact that very complex issues are presented in an easily readable manner. More technical aspects are then outlined in the appendices of the relevant chapters, offering colleagues the option to study formal considerations in more detail. . . a welcome addition to and expression of the knowledge base of agricultural economics. Stefan Mann, Journal of Agricultural Economics I am absolutely delighted that the authors have revised and republished this text. I have used the previous version for years in my graduate environmental economics course; usually I had to share the one copy I have with students and I felt it was a shame that these students did not have the opportunity to purchase the book since every serious environmental economist should have this volume on their shelf. It has been a continuous reference volume for me over the years and I am sure this is true of many others in the discipline. In the field of applied welfare analysis (spanning environmental economics, international trade, agricultural policy, etc.) there is no need for further elaboration when Just, Hueth and Schmitz is referenced. Everyone knows the book that is being referred to: the bible of applied welfare economics. Catherine Kling, Iowa State University, US For the record, I am one of the people who requested that the authors revise and re-issue their textbook. It is an extremely valuable book for applied economists; as with the previous edition, I will use it extensively in two of my courses and consult it frequently in my own research endeavors. Richard Adams, Oregon State University, US The original book is very well known in our profession and is still used in many classes. It will be wonderful to have a revised edition of this classic book. Colin Carter, University of California, Davis, US This outstanding text, a follow-up to the authors award-winning 1982 text, provides a thorough treatment of economic welfare theory and develops a complete theoretical and empirical framework for applied project and policy evaluation. The authors illustrate how this theory can be used to develop policy analysis from both theory and estimation in a variety of areas including: international trade, the economics of technological change, agricultural economics, the economics of information, environmental economics, and the economics of extractive and renewable natural resources. Building on willingness-to-pay (WTP) measures as the foundation for applied welfare economics, the authors develop measures for firms and households where households are viewed as both consumers and owner/sellers of resources. Possibilities are presented for (1) approximating WTP with consumer surplus, (2) measuring WTP exactly subject to errors in existing econometric work, and (3) using duality theory to specify econometric equations consistent with theory. Later chapters cover specific areas of welfare measurement under imperfect competition, uncertainty, incomplete information, externalities, and dynamic considerations. Applications are considered explicitly for policy issues related to information, international trade, the environment, agriculture, and other natural resource issues. The Welfare Economics of Public Policy is ideal for graduate and undergraduate courses in applied welfare economics, public policy, agricultural policy, and environmental economi

Download or read book Models and Measurement of Welfare and Inequality written by Wolfgang Eichhorn and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 1021 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on economic problems connected with measuring and modelling of welfare and inequality has grown rapidly within the last decade. Since this literature is scattered throughout a great number of journals on economics, economic theory, econometrics, and statisties, it is difficult to get an adequate picture of the present state of the art. Therefore books should appear from time to time, which offer a representative cross-section of the latest results of research on: the subject. This book offers such material. It contains 54 articles by 84 authors from four of the five continents. Each paper has been reviewed by two referees. As a conse quence, the contributions of this book are revised versions, or, in many cases, revised revisions of the original papers. The book is divided into four parts. Part I: Measurement of Inequality and Poverty This part contains eleven papers on theory and empirical applications of inequa lity and/or poverty measures. Two contributions deal with, among other things, experimental findings on questions concerning the acceptance of distributional axioms. Part II: Taxation and Redistribution Distributional or, rather, redistributional aspects play an important role in Part II. The topics of the 14 papers included in this part range from tax progressivity and redistribution, allocative consequences of splitting under income taxation, and connections between income tax and cost-of-living indices to merit goods and welfarism as well as to welfare aspects of tax reforms.

Download or read book New Foundations of Cost Benefit Analysis written by Matthew D. Adler and published by Harvard University Press. This book was released on 2006-10 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this book, the authors reconceptualize cost-benefit analysis, arguing that its objective should be overall well-being rather than economic efficiency. This book not only places cost-benefit analysis on a firmer theoretical foundation, but also has many practical implications for how government agencies should undertake cost-benefit studies.

Download or read book The Human Right to Water written by Malcolm Langford and published by Cambridge University Press. This book was released on 2017-10-05 with total page 737 pages. Available in PDF, EPUB and Kindle. Book excerpt: The first book to engage in a comprehensive examination of the human right to water in theory and in practice.

Download or read book Economic Ideas You Should Forget written by Bruno S. Frey and published by Springer. This book was released on 2017-03-08 with total page 168 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reporting on cutting-edge advances in economics, this book presents a selection of commentaries that reveal the weaknesses of several core economics concepts. Economics is a vigorous and progressive science, which does not lose its force when particular parts of its theory are empirically invalidated; instead, they contribute to the accumulation of knowledge. By discussing problematic theoretical assumptions and drawing on the latest empirical research, the authors question specific hypotheses and reject major economic ideas from the “Coase Theorem” to “Say’s Law” and “Bayesianism.” Many of these ideas remain prominent among politicians, economists and the general public. Yet, in the light of the financial crisis, they have lost both their relevance and supporting empirical evidence. This fascinating and thought-provoking collection of 71 short essays written by respected economists and social scientists from all over the world will appeal to anyone interested in scientific progress and the further development of economics.

Download or read book Finance Ethics written by John R. Boatright and published by John Wiley & Sons. This book was released on 2010-08-13 with total page 851 pages. Available in PDF, EPUB and Kindle. Book excerpt: A groundbreaking exploration of the critical ethical issues in financial theory and practice Compiled by volume editor John Boatright, Finance Ethics consists of contributions from scholars from many different finance disciplines. It covers key issues in financial markets, financial services, financial management, and finance theory, and includes chapters on market regulation, due diligence, reputational risk, insider trading, derivative contracts, hedge funds, mutual and pension funds, insurance, socially responsible investing, microfinance, earnings management, risk management, bankruptcy, executive compensation, hostile takeovers, and boards of directors. Special attention is given to fairness in markets and the delivery of financial services, and to the duties of fiduciaries and agents Rigorous analysis of the topics covered provides essential information and practical guidance for practitioners in finance as well as for students and academics with an interest in finance ethics Ethics in Finance skillfully explains the need for ethics in the personal conduct of finance professionals and the operation of financial markets and institutions.

Download or read book Applied Cost benefit Analysis Second Edition written by Robert J. Brent and published by Edward Elgar Publishing. This book was released on 2006-12-21 with total page 493 pages. Available in PDF, EPUB and Kindle. Book excerpt: Acclaim for first edition: The author succeeds in bringing together many interesting real-life applications of CBA in various areas (including among others health, environment and transportation). The examples are well chosen to illustrate the basic issues and show clearly the crucial importance of theoretical and assumptions. Moreover, they are presented in an accessible amethodologicalnd attractive way. For those who know already the principles of CBA, these applications are stimulating and enjoyable reading. Erik Schokkaert, Tijdschrift voor Economie en Management This fully updated new edition continues in the vein of its predecessor by viewing cost benefit analysis as applied welfare economics, while at the same time building on the earlier framework by extending the theory and providing further applications in each chapter. New for this edition are analyses of theory related applications in mental health, condom social marketing programs, female primary education as a means of preventing HIV/AIDS and the pricing of natural gas. Presented in an integrated manner, the theoretical concepts are constructed around the main building blocks of CBA, such as shadow pricing, distribution weights, the social discount rate and the marginal cost of public funds. This edition will cement the book s place as a major and accessible text in the field and will be of great interest to graduate and undergraduate students of welfare economics and microeconomic theory, as well as government economists involved with any area of public policy.

Download or read book Foundations of the Economic Approach to Law written by and published by . This book was released on 2006 with total page 442 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Economics of Justice written by Richard A. Posner and published by Harvard University Press. This book was released on 1983-08-16 with total page 436 pages. Available in PDF, EPUB and Kindle. Book excerpt: Posner uses economic analysis to probe justice and efficiency, primitive law, privacy, and the constitutional regulation of racial discrimination.

Download or read book Price Theory written by David D Friedman and published by . This book was released on 2019-08-16 with total page 556 pages. Available in PDF, EPUB and Kindle. Book excerpt: Price theory, often misleadingly labeled "microeconomics," is the explanation of how individual actors coordinate via markets, prices, and exchange to produce, distribute, and consume goods and services. Worked out more than a century ago, it remains the core of modern economic theory. This text, first published in 1986 and now combining material from the first two editions, emphasizes understanding over formal analysis, using verbal explanation to supplement mathematical argument. While optional sections require an understanding of calculus, the central arguments do not. The theory, once worked out, is applied both to the conventional topics of the classroom and to less obviously economic features of human behavior-love, marriage, crime, politics."Although the range of behavior analyzed with the economic way of thinking has been greatly extended during the past several decades, textbooks on economic principles generally have taken a much narrower view of the scope of economics. This is not surprising since recent developments in a scientific field usually do not find their way into textbooks for many years. Fortunately, several economics texts in recent years have begun to take a broader view, and this text by David Friedman does so in the most thoroughgoing and satisfactory manner of any that I have seen. Every chapter shows evidence of a skilled and imaginative economist applying his tools to the world around him."(From the forward by Gary Becker)

Download or read book Risks and Wrongs written by Jules L. Coleman and published by CUP Archive. This book was released on 1992-11-27 with total page 532 pages. Available in PDF, EPUB and Kindle. Book excerpt: Jules Coleman discusses the conflict between the goals of justice and economic efficiency in the allocation of risk, especially risk pertaining to safety.

Download or read book An Introduction to Law and Economics written by A. Mitchell Polinsky and published by Aspen Publishing. This book was released on 2018-07-17 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Distinguished by brevity, lucid writing, and well-chosen examples, An Introduction to Law and Economics, now in its Fifth Edition, focuses on a set of core topics that include property, contracts, torts, criminal law, and litigation. Avoiding specialized jargon and mathematics, Polinsky teaches students how to think like an economist and understand legal issues from an economic perspective. New to the Fifth Edition: A streamlining of the products liability chapter A revised discussion of the redistributive effects of legal rules to reflect more recent scholarship on this topic The addition of several other refinements in the text and in new footnotes An updated bibliography Professors and students will benefit from: Solid coverage of relevant economic principles A normative approach that illustrates how to assess legal rules and policies in terms of economic and social goals Clear explanations of concepts

Download or read book Morality Competition and the Firm written by Joseph Heath and published by Oxford University Press. This book was released on 2014-08-01 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this collection of provocative essays, Joseph Heath provides a compelling new framework for thinking about the moral obligations that private actors in a market economy have toward each other and to society. In a sharp break with traditional approaches to business ethics, Heath argues that the basic principles of corporate social responsibility are already implicit in the institutional norms that structure both marketplace competition and the modern business corporation. In four new and nine previously published essays, Heath articulates the foundations of a "market failures" approach to business ethics. Rather than bringing moral concerns to bear upon economic activity as a set of foreign or externally imposed constraints, this approach seeks to articulate a robust conception of business ethics derived solely from the basic normative justification for capitalism. The result is a unified theory of business ethics, corporate law, economic regulation, and the welfare state, which offers a reconstruction of the central normative preoccupations in each area that is consistent across all four domains. Beyond the core theory, Heath offers new insights on a wide range of topics in economics and philosophy, from agency theory and risk management to social cooperation and the transaction cost theory of the firm.

Download or read book The Microeconomics of Complex Economies written by Wolfram Elsner and published by Academic Press. This book was released on 2014-04-15 with total page 599 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Microeconomics of Complex Economies uses game theory, modeling approaches, formal techniques, and computer simulations to teach useful, accessible approaches to real modern economies. It covers topics of information and innovation, including national and regional systems of innovation; clustered and networked firms; and open-source/open-innovation production and use. Its final chapter on policy perspectives and decisions confirms the value of the toolset. Written so chapters can be used independently, the book includes an introduction to computer simulation and pedagogical supplements. Its formal, accessible treatment of complexity goes beyond the scopes of neoclassical and mainstream economics. The highly interdependent economy of the 21st century demands a reconsideration of economic theories. - Describes the usefulness of complex heterodox economics - Emphasizes divergences and convergences with neoclassical economic theories and perspectives - Fits easily into courses on intermediate microeconomics, industrial organization, and games through self-contained chapters

Download or read book Economics of Standards in Information Networks written by Tim Weitzel and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 308 pages. Available in PDF, EPUB and Kindle. Book excerpt: Standards play a prominent role in systems characterized by interaction. In information systems, standards provide for compatibility and are a prerequisite for collaboration benefits. More generally speaking, standards constitute networks. In this work, a standardization framework based on an analysis of deficiencies of network effect theory and a game theoretic network equilibrium analysis is developed. Fundamental determinants of diffusion processes in networks (e.g. network topology, agent size, installed base) are identified and incorporated into a computer-based simulation model. As a result, typical network behaviour (specific diffusion patterns) can be explained and many findings from traditional network effect theory can be described as special cases of the model at particular parameter constellations (e.g. low price, high density). On this basis, solution strategies for standardization problems are developed, and a methodological path towards a unified theory of networks is proposed.

Download or read book The Economic Analysis of Public Policy written by William K. Bellinger and published by Routledge. This book was released on 2015-12-22 with total page 515 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical analysis of public policy decisions requires a far greater depth of knowledge than can be received from news reports and political speeches. Issues such as how best to reduce traffic congestion, reduce acid rain, improve airline safety or develop a parcel of land are better understood by organizing, measuring and weighing the effects of alternative policies. The Economic Analysis of Public Policy, now in its second edition, is the ideal introduction to benefit-cost analysis, the economics of efficiency, risk analysis and present value, and is suitable for those with only a modest background in mathematics and economics. This brand new edition of the book has been rigorously updated throughout in terms of examples and data references, issues covered, and layout and pedagogical features. Key concepts are reinforced through multiple problems and discussion questions within each chapter. This latest edition contains extra material on loss aversion, global warming, technology, and US health care reform, as well as a wider range of international examples. Extra tables have been included in order to clarify more complicated issues. Instructors will also benefit from the new companion website, which will offer power point presentations, answers to end of chapter questions, and a test bank. This textbook encourages its readers to understand and apply key concepts whilst also learning to appreciate policy analysis as part of an interdisciplinary, analytical, and political process that can lead to better government policy decisions. It is an ideal teaching tool for undergraduate and postgraduate students engaged in Public Administration, Public Economics, and Public Policy.