The Welfare Economics Of Public Policy

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The Welfare Economics of Public Policy

Author : Richard E. Just
Publisher : Edward Elgar Publishing
ISBN 13 : 1845421574
Total Pages : 706 pages
Book Rating : 4.8/5 (454 download)

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Book Synopsis The Welfare Economics of Public Policy by : Richard E. Just

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

Applied Welfare Economics and Public Policy

Author : Richard E. Just
Publisher : Prentice Hall
ISBN 13 :
Total Pages : 520 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis Applied Welfare Economics and Public Policy by : Richard E. Just

Download or read book Applied Welfare Economics and Public Policy written by Richard E. Just and published by Prentice Hall. This book was released on 1982 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Applied Welfare Economics

Author : Massimo Florio
Publisher : Routledge
ISBN 13 : 1317814258
Total Pages : 412 pages
Book Rating : 4.3/5 (178 download)

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Book Synopsis Applied Welfare Economics by : Massimo Florio

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 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.

Applied Welfare Economics, Trade, and Agricultural Policy Analysis

Author : G. Cornelis van Kooten
Publisher : University of Toronto Press
ISBN 13 : 1487524099
Total Pages : 327 pages
Book Rating : 4.4/5 (875 download)

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Book Synopsis Applied Welfare Economics, Trade, and Agricultural Policy Analysis by : G. Cornelis van Kooten

Download or read book Applied Welfare Economics, Trade, and Agricultural Policy Analysis written by G. Cornelis van Kooten and published by University of Toronto Press. This book was released on 2021 with total page 327 pages. Available in PDF, EPUB and Kindle. Book excerpt: This textbook integrates three related fields in economics, namely agricultural/forestry economics, environmental economics, and international trade, by foregrounding cost-benefit analysis as a significant policy tool. Exploring how welfare measures can be used in the analysis of agricultural, trade, and other economic policies, Applied Welfare Economics, Trade, and Agricultural Policy Analysis fills a gap in the literature on agricultural policy analysis by explaining the economic efficiency improvements and income transfers of various agricultural policy reforms in the United States, Canada, and the European Union. G. Cornelis van Kooten addresses methods of identifying and measuring economic surpluses (costs and benefits), the precautionary principle, identification of an appropriate discount rate, the importance of non-market values, and the role of agriculture in trade negotiations and climate change. Applied Welfare Economics, Trade, and Agricultural Policy Analysis draws on new research, brings attention to the existing literature, and includes review questions that challenge programming skills. The techniques developed in this text can be applied to the development and reform of agricultural policies in various regions in response to trade negotiations and many other situations involving government policy.

Measuring Social Welfare

Author : Matthew D. Adler
Publisher : Oxford University Press
ISBN 13 : 0190643048
Total Pages : 240 pages
Book Rating : 4.1/5 (96 download)

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Book Synopsis Measuring Social Welfare by : Matthew D. Adler

Download or read book Measuring Social Welfare written by Matthew D. Adler and published by Oxford University Press. This book was released on 2019-09-23 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: Disputes over government policies rage in a number of areas. From taxation to climate change, from public finance to risk regulation, and from health care to infrastructure planning, advocates debate how policies affect multiple dimensions of individual well-being, how these effects balance against each other, and how trade-offs between overall well-being and inequality should be resolved. How to measure and balance well-being gains and losses is a vexed issue. Matthew D. Adler advances the debate by introducing the social welfare function (SWF) framework and demonstrating how it can be used as a powerful tool for evaluating governmental policies. The framework originates in welfare economics and in philosophical scholarship regarding individual well-being, ethics, and distributive justice. It has three core components: a well-being measure, which translates each of the possible policy outcomes into an array of interpersonally comparable well-being numbers, quantifying how well off each person in the population would be in that outcome; a rule for ranking outcomes thus described ; and an uncertainty module, which orders policies understood as probability distributions over outcomes. The SWF framework is a significant improvement compared to cost-benefit analysis (CBA), which quantifies policy impacts in dollars, is thereby biased towards the rich, and is insensitive to the distribution of these monetized impacts. The SWF framework, by contrast, uses an unbiased measure of well-being and allows the policymaker to consider both efficiency (total well-being) and equity (the distribution of well-being). Because the SWF framework is a fully generic methodology for policy assessment, Adler also discusses how it can be implemented to inform government policies. He illustrates it through a detailed case study of risk regulation, contrasting the implications of results of SWF and CBA. This book provides an accessible, yet rigorous overview of the SWF approach that can inform policy-makers and students.

Economic Analysis, Moral Philosophy, and Public Policy

Author : Daniel Hausman
Publisher : Cambridge University Press
ISBN 13 : 1107158311
Total Pages : 419 pages
Book Rating : 4.1/5 (71 download)

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Book Synopsis Economic Analysis, Moral Philosophy, and Public Policy by : Daniel Hausman

Download or read book Economic Analysis, Moral Philosophy, and Public Policy written by Daniel Hausman and published by Cambridge University Press. This book was released on 2017 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows how careful attention to moral reasoning can enrich economic understanding and clarify the importance and the limits of an economic analysis of policy problems.

Welfare Theory, Public Action, and Ethical Values

Author : Roger E. Backhouse
Publisher : Cambridge University Press
ISBN 13 : 1108898696
Total Pages : 350 pages
Book Rating : 4.1/5 (88 download)

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Book Synopsis Welfare Theory, Public Action, and Ethical Values by : Roger E. Backhouse

Download or read book Welfare Theory, Public Action, and Ethical Values written by Roger E. Backhouse and published by Cambridge University Press. This book was released on 2021-03-25 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: This innovative history of welfare economics challenges the view that welfare economics can be discussed without taking ethical values into account. Whatever their theoretical commitments, when economists have considered practical problems relating to public policy, they have adopted a wider range of ethical values, whether equality, justice, freedom, or democracy. Even canonical authors in the history of welfare economics are shown to have adopted ethical positions different from those with which they are commonly associated. Welfare Theory, Public Action, and Ethical Values explores the reasons and implications of this, drawing on concepts of welfarism and non-welfarism developed in modern welfare economics. The authors exemplify how economic theory, public affairs and political philosophy interact, challenging the status quo in order to push economists and historians to reconsider the nature and meaning of welfare economics.

The Science of Public Policy: Policy analysis

Author : Tadao Miyakawa
Publisher : Taylor & Francis
ISBN 13 : 9780415195966
Total Pages : 568 pages
Book Rating : 4.1/5 (959 download)

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Book Synopsis The Science of Public Policy: Policy analysis by : Tadao Miyakawa

Download or read book The Science of Public Policy: Policy analysis written by Tadao Miyakawa and published by Taylor & Francis. This book was released on 1999 with total page 568 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Myth of Social Cost

Author : Steven N. S. Cheung
Publisher : Hobart Papers (Paperback)
ISBN 13 :
Total Pages : 108 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis The Myth of Social Cost by : Steven N. S. Cheung

Download or read book The Myth of Social Cost written by Steven N. S. Cheung and published by Hobart Papers (Paperback). This book was released on 1978 with total page 108 pages. Available in PDF, EPUB and Kindle. Book excerpt: For over 50 years economists have argued that where private costs or benefits differ from social costs or benefits - in noise, smells, congestion, pollution of the environment - there is a 'clear case' for government intervention to correct the divergence. This argument has been used to justify almost endless intervention. However, the original analysts of social costs/benefits were led into error by failing to test their propositions against the evidence of real life. Painstaking empirical studies clearly demonstrate these errors. A divergence between private and social cost is no decisive justification for government action to correct it. The costs of intervention often outweigh the social benefits. Moreover, the alleged 'externalities' are merely uncontracted effects. Under private property rights, the use of contracts to transact what have been regarded as 'external' effects is far more common than has been commonly recognised.

Markets, State, and People

Author : Diane Coyle
Publisher : Princeton University Press
ISBN 13 : 0691179263
Total Pages : 372 pages
Book Rating : 4.6/5 (911 download)

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Book Synopsis Markets, State, and People by : Diane Coyle

Download or read book Markets, State, and People written by Diane Coyle and published by Princeton University Press. This book was released on 2020-01-14 with total page 372 pages. Available in PDF, EPUB and Kindle. Book excerpt: While economic research emphasizes the importance of governmental institutions for growth and progress, conventional public policy textbooks tend to focus on macroeconomic policies and on tax-and-spend decisions. Markets, State, and People stresses the basics of welfare economics and the interplay between individual and collective choices. It fills a gap by showing how economic theory relates to current policy questions, with a look at incentives, institutions, and efficiency. How should resources in society be allocated for the most economically efficient outcomes, and how does this sit with society's sense of fairness? Diane Coyle illustrates the ways economic ideas are the product of their historical context, and how events in turn shape economic thought. She includes many real-world examples of policies, both good and bad. Readers will learn that there are no panaceas for policy problems, but there is a practical set of theories and empirical findings that can help policymakers navigate dilemmas and trade-offs. The decisions faced by officials or politicians are never easy, but economic insights can clarify the choices to be made and the evidence that informs those choices. Coyle covers issues such as digital markets and competition policy, environmental policy, regulatory assessments, public-private partnerships, nudge policies, universal basic income, and much more.

Applied Welfare Economics

Author : Richard E. Just
Publisher : Edward Elgar Publishing
ISBN 13 :
Total Pages : 808 pages
Book Rating : 4.3/5 ( download)

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Book Synopsis Applied Welfare Economics by : Richard E. Just

Download or read book Applied Welfare Economics written by Richard E. Just and published by Edward Elgar Publishing. This book was released on 2008 with total page 808 pages. Available in PDF, EPUB and Kindle. Book excerpt: Presents the key works that serve as a basis for applied welfare economic practices, the major papers that develop the methodology of applied economic welfare measurement and some of the exemplary applications in the fields of welfare work. This book is designed to provide students and scholars with a source useful in applied welfare economics.

The Welfare Economics of Markets, Voting and Predation

Author : Dan Usher
Publisher : Manchester University Press
ISBN 13 : 9780719034336
Total Pages : 520 pages
Book Rating : 4.0/5 (343 download)

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Book Synopsis The Welfare Economics of Markets, Voting and Predation by : Dan Usher

Download or read book The Welfare Economics of Markets, Voting and Predation written by Dan Usher and published by Manchester University Press. This book was released on 1992 with total page 520 pages. Available in PDF, EPUB and Kindle. Book excerpt: This work dwells upon two themes, each of which differs from traditional welfare economics - predation or taking (as a source of inefficiency in the economy) and the tension between voting and markets as alternative methods of decision-making.

Welfare Economics and Second-Best Theory

Author : Richard S. Markovits
Publisher : Springer Nature
ISBN 13 : 3030433609
Total Pages : 368 pages
Book Rating : 4.0/5 (34 download)

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Book Synopsis Welfare Economics and Second-Best Theory by : Richard S. Markovits

Download or read book Welfare Economics and Second-Best Theory written by Richard S. Markovits and published by Springer Nature. This book was released on 2020-05-30 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the implications of The General Theory of Second Best for analyzing the economic efficiency of non-government conduct or government policies in an economically efficient way. It develops and legitimates an economically efficient economic-efficiency-analysis protocol with three unique characteristics: First, the protocol focuses separately on each of a wide variety of categories of economic inefficiency, many of which conventional analyses ignore. Second, it analyzes the impact of conduct or policies on each of these categories of economic inefficiency, primarily by predicting the respective conduct’s/policy’s impact on the distortion that the economy’s various Pareto imperfections generate in the profits yielded by the resource allocations associated with the individual categories of economic inefficiency—i.e., on the difference between their profitability and economic efficiency. And third, it is third-best—i.e., it instructs the analyst to execute a theoretical or empirical research project if and only if the economic-efficiency gains the project is expected to generate by increasing the accuracy of economic-efficiency conclusions exceed the predicted allocative cost of its execution and public financing. The book also uses the protocol to analyze the economic efficiency of specific policies so as to illustrate both how it differs from the protocols that most applied welfare economists continue to use and how its conclusions differ from those produced by standard analysis.

Welfare and well-being

Author : Jordan, Bill
Publisher : Policy Press
ISBN 13 : 1447315448
Total Pages : 288 pages
Book Rating : 4.4/5 (473 download)

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Book Synopsis Welfare and well-being by : Jordan, Bill

Download or read book Welfare and well-being written by Jordan, Bill and published by Policy Press. This book was released on 2008-09-10 with total page 288 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research on well-being reveals the significance of personal relationships, trust and participation to sustain quality of life, yet it is the economic model that remains the dominant basis for political and social institutions and policy. In this original book, Bill Jordan presents a new analysis of well-being in terms of social value, and outlines how it could be incorporated into public policy decisions. He argues that the grandiose attempt to maximise welfare and regulate social relations through contract, in line with the economic theory of information and incentives, is counterproductive for well-being. Instead, both the quality of personal experience and the restraints necessary for a convivial collective life would be better served by a focus on cultures and institutions. This book will be an essential text for academics and students in social theory, social welfare, public policy and governance. Bill Jordan is Professor of Social Policy at Plymouth and Huddersfield Universities. He has held visiting chairs in Germany, the Netherlands, Denmark, Slovakia and Hungary. He worked for 20 years in the UK social services, and is the author of 25 books on social policy, social theory, politics and social work.

The Economics of Welfare

Author : Arthur Cecil Pigou
Publisher : Transaction Publishers
ISBN 13 : 1412836670
Total Pages : 948 pages
Book Rating : 4.4/5 (128 download)

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Book Synopsis The Economics of Welfare by : Arthur Cecil Pigou

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:

Information, Strategy, and Public Policy

Author : Vines
Publisher : John Wiley & Sons
ISBN 13 : 0631176934
Total Pages : 185 pages
Book Rating : 4.6/5 (311 download)

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Book Synopsis Information, Strategy, and Public Policy by : Vines

Download or read book Information, Strategy, and Public Policy written by Vines and published by John Wiley & Sons. This book was released on 1991 with total page 185 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, some of the world′s finest economists address a theme which is once again at the economic policy, namely the appropriate role for policy in a market economy. Can Adam Smith′s ′invisible hand′ mechanism be expected to allocate resources efficiently to meet the needs of society and is the role of government therefore limited at best? The authors draw on recent theoretical advances in the study of imperfect information and stratgic behavior to argue that the models of classical welfare economics are insufficient as a framework for understaning modern market economies The first two chapters by joseph Stiglitz and Frank Hahn represent assaults on the fundamental theorems of welfare economics: the notion of pareto-efficiency and the ability of the price mechanism to achieve it. Taking this as their lead, subsequent chapters focus on specific examples of market failure - the environment, the persistence of high levels of unemployment and the strategic behavior of governments in the making of international economic policy. The book represents a remarkable and accessible insight into the dilemmas of modern economics. It also demonstrates the fundamental role economic analysis has to play in the understanding of real problems and the formulation of appropriate policy.

Public Microeconomics

Author : Joaquim Silvestre
Publisher : Edward Elgar Publishing
ISBN 13 : 085793208X
Total Pages : 210 pages
Book Rating : 4.8/5 (579 download)

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Book Synopsis Public Microeconomics by : Joaquim Silvestre

Download or read book Public Microeconomics written by Joaquim Silvestre and published by Edward Elgar Publishing. This book was released on 2012-01-01 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains a concise, simple, yet precise discussion of externalities, public goods and insurance. Rooted in the first fundamental theorem of welfare economics and in noncooperative equilibrium, it employs elementary calculus. The book presents established theory in novel ways, and offers the tools for the application of the social welfare criteria of efficiency and equity to environmental economics, networks, bargaining, political economy, and the pricing of public goods and public utilities. This innovative, user-friendly textbook will be of use over a broad range of disciplines. The applications found here include international global-warming issues (North vs. South model), and bargaining over externalities (Coase's theorem). This text also introduces the Wicksell-Lindahl model in its original form, which depicts the parliamentary negotiation between representative parties and provides an effective introduction to political economy. Later, these ideas are applied to the pricing of an excludable public good, revealing the theoretical connection between public utility pricing and the pricing of excludable public goods. The text integrates three forms of discourse: verbal, graphical, and formal. Elementary calculus is frequently used, allowing for clarity and precision; qualities that are often missing in conventional textbooks. The main text considers a finite number of consumers and appendices cover the continuum mathematical model, which is implicit in the references to the 'marginal consumer' found in traditional texts. The analysis found in Public Microeconomics is simple and operational, conducive to computationally easy examples and exercises. This textbook is ideally suited to graduate and upper-level undergraduate courses in economics, political science, policy and philosophy.