This clear and balanced introduction to welfare economics reflects the most recent advances in the field. Designed for third--year undergraduate and graduate courses, it offers an extensive treatment of both the theory of welfare economics and the techniques for applying that theory to real problems. Num Pages: 352 pages, black & white illustrations. BIC Classification: KCC. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly; (UU) Undergraduate. Dimension: 154 x 229 x 22. Weight in Grams: 562. . 1984. 1st Edition. Paperback. . . . .

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Bibliographic Details

Title: Welfare Economics
Publisher: John Wiley and Sons Ltd
Publication Date: 1984
Language: English
ISBN 10: 0631133275
ISBN 13: 9780631133278
Binding: Soft cover
Edition: 1st Edition
Condition: New

About this title

Synopsis

This clear and balanced introduction to welfare economics reflects the most recent advances in the field. Designed for third-year undergraduate and graduate courses, it offers an extensive treatment of both the theory of welfare economics and the techniques for applying that theory to real problems.

The first part of the book presents a synthesis of the theory. Starting from the premise that the purpose of theory is to provide criteria for ordering alternative economic states, the authors analyse the relationship between individual and social orderings. They discuss the conditions of Pareto efficiency and optimality as well as the ways in which market economies may fail to achieve a Pareto optimal allocation of resources. They go on to evaluate the theory of social welfare functions, paying particular attention to recent developments.

The second part of the book considers the principles of applied welfare economics. Developing the use of the compensating variation as their main tool, the authors discuss welfare change measurement in single-person and many-person economies. In the final chapter they survey the recent literature on cost-benefit analysis.

About the Author

Robin W. Boadway is Professor of Economics, Queen's University, Ontario, Canada and
Neil Bruce is Professor of Economics, UCLA, USA.

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