Welfare Economics and Second-Best Theory : A Distortion-Analysis Protocol for Economic-Efficiency Prediction / by Richard S. Markovits.
2020
Formats
| Format | |
|---|---|
| BibTeX | |
| MARCXML | |
| TextMARC | |
| MARC | |
| DublinCore | |
| EndNote | |
| NLM | |
| RefWorks | |
| RIS |
Items
Details
Title
Welfare Economics and Second-Best Theory : A Distortion-Analysis Protocol for Economic-Efficiency Prediction / by Richard S. Markovits.
Added Corporate Author
Edition
1st ed. 2020.
Imprint
Cham : Springer International Publishing : Imprint: Springer, 2020.
Description
XXIII, 356 p. 9 illus. online resource
Formatted Contents Note
Introduction to The General Theory of Second Best, Its Central Implications, and the Appropriate Way to Respond to It
The Economics Profession's Responses to The General Theory of Second Best: Descriptions and Critiques
The Concept of "the Impact of a Choice (or Natural Event) on Economic Efficiency"
"First-Best," "Second-Best," and "Third-Best" Definitions, Elaborations, and Other Economists' Usages
The Symbols for Various Pareto Imperfections, Private and Allocative Concepts, Categories of Resource-Uses, and Categories of Resource Allocations
The Vocabulary and Symbols of Distortion Analysis
Analyses of Various Step-Wise Monopoly Distortions
The Various Non-Monopoly Step-Wise Private-Benefit, Private-Cost, and Profit Distortions
Some Negative and Positive Implications of the TBLE Distortion-Analysis Protocol for Economic-Efficiency Prediction/Post-Diction
The Approach That Would Be TBLE for a Government to Take to Economic-Efficiency Prediction/Post-diction-the Rest of the Story
Conclusion.
The Economics Profession's Responses to The General Theory of Second Best: Descriptions and Critiques
The Concept of "the Impact of a Choice (or Natural Event) on Economic Efficiency"
"First-Best," "Second-Best," and "Third-Best" Definitions, Elaborations, and Other Economists' Usages
The Symbols for Various Pareto Imperfections, Private and Allocative Concepts, Categories of Resource-Uses, and Categories of Resource Allocations
The Vocabulary and Symbols of Distortion Analysis
Analyses of Various Step-Wise Monopoly Distortions
The Various Non-Monopoly Step-Wise Private-Benefit, Private-Cost, and Profit Distortions
Some Negative and Positive Implications of the TBLE Distortion-Analysis Protocol for Economic-Efficiency Prediction/Post-Diction
The Approach That Would Be TBLE for a Government to Take to Economic-Efficiency Prediction/Post-diction-the Rest of the Story
Conclusion.
Summary
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.
Location
www
In
Springer Nature eBook
Available in Other Form
Printed edition:
Printed edition:
Printed edition:
Printed edition:
Printed edition:
Linked Resources
Alternate Title
SpringerLink electronic monographs.
Language
English
ISBN
9783030433604
Record Appears in