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Welfare Economics

Welfare Economics

by William J. Baumol (Editor), Charles A. Wilson (Editor)

Editorial Reviews

This three-volume set collects articles that focus upon the historical development of basic ideas; legitimate analytic and evaluative methods, including such subjects as the Pareto principle and the information obtainable from revealed preference; the performance of markets in different competitive and other pertinent circumstances, including cases in which they can be expected to function efficiently and those in which market failure occurs; and proposed remedial or ameliatory measures and, in particular, optimal market-based policies. Volume I (32 contributions) covers criteria, foundations, many-consumer economies, choice between market and non- market allocation mechanisms, and second-best analysis. Volume II (36 contributions) addresses virtues of the market mechanism, perfect competition, monopoly and imperfect competition, asymmetric and imperfect information, uncertainty, and public goods, externalities and scale economies. Volume III (26 contributions) explores externalities and Pigouvian taxation, Ramsey pricing, predatory pricing, and regulation of prices. The volumes lack subject indexes. Edited by economists Baumol and Wilson, both of New York University. Annotation c. Book News, Inc., Portland, OR (booknews.com)

Product Details

Elgar, Edward Publishing, Inc.
Publication date:
International Library of Critical Writin
Product dimensions:
6.69(w) x 9.45(h) x (d)

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