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Welfare and Efficiency in Public Economics

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Hans-Werner Sinn, Munich, West Germany This book contains 15 papers presented at a conference in Neresheim, West Ger­ many, in June 1986. The articles were selected by anonymous referees and most of them have undergone substantial revisions since their presentation. The common topic is measurement of welfare, both from efficiency and from equity perspectives. For many economists, welfare is a diffuse, arbitrary and am­ biguous concept. The papers collected in this book show that this view i...