Welfare Economics of Public Policy: A Practical Approach to Project and Policy Evaluation

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"This 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." The Welfare Economics of Public Policy is ideal for graduate and undergraduate courses in applied welfare economics, public policy, agricultural policy, and environmental economics and provides an essential reference for practitioners of applied welfare economics.
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Product Details

  • ISBN-13: 9781843766889
  • Publisher: Elgar, Edward Publishing, Inc.
  • Publication date: 1/1/2005
  • Pages: 688
  • Product dimensions: 6.72 (w) x 9.94 (h) x 1.74 (d)

Table of Contents

1 Introduction 1
2 Pareto optimality and the Pareto criterion 14
3 The compensation principle and the welfare function 32
4 Welfare measurement for the producer 49
App. to Ch. 4 Alternative measures of producer welfare in factor and product markets 75
5 Consumer surplus and consumer welfare 98
App. to Ch. 5 Nonuniqueness of consumer surplus 113
6 Willingness to pay and consumer welfare 123
App. to Ch. 6 Welfare measurement for consumers 157
7 Factor supply and factor owner welfare 183
App. to Ch. 7 Welfare measurement for factor owners 216
8 Aggregation and economic welfare analysis of market-oriented policies 253
App. to Ch. 8 Measurement of aggregate market welfare 294
9 Multimarket analysis and general equilibrium considerations 311
App. to Ch. 9 Welfare measures for multimarket equilibrium 351
10 The welfare economics of market structure with applications to international trade 375
11 The welfare economics of information with applications to advertising and information policy 417
App. to Ch. 11 Measuring the welfare effects of quality and information 451
12 Stochastic welfare economics with applications to agricultural policy analysis 467
App. to Ch. 12 Producer welfare measurement under risk 518
13 Nonmarket welfare measurement with applications to environmental economic policy 527
14 Intertemporal considerations in cost-benefit analysis with applications to natural resource economics 572
App. to Ch. 14 Intertemporal welfare analysis with investment in producer capital and consumer durables 618
15 Conclusions and further considerations 639
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