{"product_id":"welfare-economics-isbn-9780631133278","title":"Welfare Economics","description":"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.\u003cbr\u003e \u003cbr\u003e 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.\u003cbr\u003e \u003cbr\u003e 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. 1. The Descriptive Evidence, As We See It 3 \u003cp\u003eA. Theoretical Context 3\u003c\/p\u003e \u003cp\u003eB. Experimental Evidence 5\u003c\/p\u003e \u003cp\u003e2. Methodologies of Behavioral Welfare Economics from Economists 9\u003c\/p\u003e \u003cp\u003eA. Nudges and Boosts 9\u003c\/p\u003e \u003cp\u003eB. Randomized Evaluations in Search of “What Works” 11\u003c\/p\u003e \u003cp\u003eC. Behavioral Welfare Analysis Using “Frames” 12\u003c\/p\u003e \u003cp\u003eD. Identifying the Inner Utility Function 16\u003c\/p\u003e \u003cp\u003eE. Modeling Mistakes 17\u003c\/p\u003e \u003cp\u003eF. Reduced Form Inferences 20\u003c\/p\u003e \u003cp\u003e3. Behavioral Welfare Economics with the Quantitative Intentional Stance 22\u003c\/p\u003e \u003cp\u003eA. The Intentional Stance 25\u003c\/p\u003e \u003cp\u003eB. An Illustrative Application 32\u003c\/p\u003e \u003cp\u003eC. Issues in the Application of the Quantitative Intentional Stance 37 Is Rationality Being Assumed? 37\u003c\/p\u003e \u003cp\u003eAre We Assuming Some True Risk Preference? 40\u003c\/p\u003e \u003cp\u003eAre We Assuming Stable Risk Preference? 42\u003c\/p\u003e \u003cp\u003eWhat About Source-Dependent Risk Preference? 44\u003c\/p\u003e \u003cp\u003eBut Can’t I Just See What Works? 45\u003c\/p\u003e \u003cp\u003eHow Much Structure is Needed? 46\u003c\/p\u003e \u003cp\u003eWhy Just EUT and RDU? 48\u003c\/p\u003e \u003cp\u003eWhy Ignore Loss Aversion? 49\u003c\/p\u003e \u003cp\u003eBut There Is No Single, Correct Way to Elicit Risk Preferences 49\u003c\/p\u003e \u003cp\u003eWhat About Subjective Probabilities? 49\u003c\/p\u003e \u003cp\u003eWhat About Social Welfare? 50\u003c\/p\u003e \u003cp\u003e4. Distinguishing Welfare from Well-Being 51\u003c\/p\u003e \u003cp\u003eA. Well-Being and Reflective Rationality 51\u003c\/p\u003e \u003cp\u003eB. Paternalism 57\u003c\/p\u003e \u003cp\u003e5. Conclusions 68\u003c\/p\u003e \u003cp\u003eReferences 76\u003c\/p\u003e  \u003cb\u003eRobin W. Boadway\u003c\/b\u003e is Professor of Economics, Queen's University, Ontario, Canada and\u003cbr\u003e \u003cb\u003eNeil Bruce\u003c\/b\u003e is Professor of Economics, UCLA, USA.  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.  \u003cp\u003eThe 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.\u003c\/p\u003e \u003cp\u003eThe 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.\u003c\/p\u003e","brand":"Wiley-Blackwell","offers":[{"title":"Default Title","offer_id":47990473392357,"sku":"NP9780631133278","price":47.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780631133278.jpg?v=1761787968","url":"https:\/\/k12savings.com\/es\/products\/welfare-economics-isbn-9780631133278","provider":"K12savings","version":"1.0","type":"link"}