[PDF] The Welfare Economics Of Public Policy eBook

Author : Richard E. Just
Publisher : Edward Elgar Publishing
Page : 706 pages
File Size : 17,31 MB
Release : 2005-01-01
Category : Political Science
ISBN : 1845421574

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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

Author : Diane Coyle
Publisher : Princeton University Press
Page : 372 pages
File Size : 21,55 MB
Release : 2020-01-14
Category : Business & Economics
ISBN : 0691189315

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A textbook that examines how societies reach decisions about the use and allocation of economic resources 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. Markets, State, and People offers a new way of approaching public economics. A focus on markets and institutions Policy ideas in historical context Real-world examples How economic theory helps policymakers tackle dilemmas and choices

Author : Steven N. S. Cheung
Publisher : Hobart Papers (Paperback)
Page : 108 pages
File Size : 44,3 MB
Release : 1978
Category : Business & Economics
ISBN :

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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.

Author : Dan Usher
Publisher : Manchester University Press
Page : 520 pages
File Size : 25,84 MB
Release : 1992
Category : Economic policy
ISBN : 9780719034336

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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.

Author : Richard S. Markovits
Publisher : Springer Nature
Page : 368 pages
File Size : 28,54 MB
Release : 2020-05-30
Category : Business & Economics
ISBN : 3030433609

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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.

Author : Bill Jordan
Publisher : Policy Press
Page : 292 pages
File Size : 50,5 MB
Release : 2008-09-10
Category : Education
ISBN : 9781847420800

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In this original book Bill Jordan presents a new analysis of well-being in terms of its social value, and outlines ways in which this could be incorporated into public policy decisions.