Welfare economics : towards a more complete analysis

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Title:

Author:

Ng, Yew-Kwang.

ISBN:

9780333971215

Personal Author:

Ng, Yew-Kwang.

Publication Information:

New York : Palgrave Macmillan, 2004

Physical Description:

355 p. cm.

Contents:

1. Introduction -- 2. Pareto Optimality -- 3. The Direction of Welfare Change: Welfare Criteria -- 4. The Magnitude of Welfare Change: Consumer Surplus -- 5. Social Choice -- 6. The Optimal Distribution of Income -- 7. Externality -- 8. Public Goods -- 9. First, Second or Third Best? -- 10. Beyond Marginal Analysis: Perspectives from an Inframarginal Analysis of the Division of Labour -- 11. From Preference to Happiness -- 12. Conclusion: Towards an Interdisciplinary Study of Welfare?

Subject Term:

Welfare economics.

Electronic Access:

Publisher description http://www.loc.gov/catdir/description/hol041/2003051788.html
Table of contents http://www.loc.gov/catdir/toc/hol041/2003051788.html

Copies:

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Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168015732999	330.1556 N576W 2003	1	Searching... Unknown

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Summary

Yew-Kwang Ng looks to make welfare economics more complete by discussing the recent inframarginal analysis of division of labour and by pushing welfare economics from the level of preference to that of happiness, making a reformulation of the foundation of public policy necessary. A theory of the third best is provided, with extension to the equality/efficiency issue. The remarkable conclusion of treating a dollar as a dollar provides a powerful simplification of public policy formulation in general and in cost-benefit analysis in particular.