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Measuring Welfare Changes—A Brief Overview

Chris Jones

in Applied Welfare Economics

Published in print:
2005
Published Online:
July 2005
ISBN:
9780199281978
eISBN:
9780191602535
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199281971.003.0001
Subject:
Economics and Finance, Public and Welfare

This chapter examines welfare measures when they are made without cardinal utility functions to understand the properties of the aggregate dollar changes in utility computed in a conventional ... More


 Getting Together

Ken Binmore

in Playing for Real: Game Theory

Published in print:
2007
Published Online:
May 2007
ISBN:
9780195300574
eISBN:
9780199783748
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780195300574.003.0016
Subject:
Economics and Finance, Microeconomics

This chapter introduces cooperative game theory by examining the axiomatic theory of two-person bargaining problems. The link between cooperative and noncooperative game theory is first explained in ... More


Economic Skepticism

Aaron James

in Fairness in Practice: A Social Contract for a Global Economy

Published in print:
2012
Published Online:
May 2012
ISBN:
9780199846153
eISBN:
9780199933389
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199846153.003.0002
Subject:
Philosophy, Political Philosophy, Moral Philosophy

This chapter challenges economic skepticism about whether the idea of fairness applies in international trade. It argues that the standard economic case for free trade is consistent with, and even ... More


Consumption Theory and Its Critics

Matthew P. Drennan

in Income Inequality: Why It Matters and Why Most Economists Didn't Notice

Published in print:
2015
Published Online:
May 2016
ISBN:
9780300209587
eISBN:
9780300216349
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300209587.003.0006
Subject:
Political Science, Public Policy

Traces the development of the economic theory of consumption from Malthus and Ricardo to Keynes and Milton Friedman. The arguments of critics of the prevailing Friedman–Modigliani–Brumberg paradigm ... More


Risk and Insurance in an Agricultural Economy

Pranab Bardhan and Christopher Udry

in Development Microeconomics

Published in print:
1999
Published Online:
November 2003
ISBN:
9780198773719
eISBN:
9780191595929
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198773714.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter first characterizes Pareto‐efficient allocation of risk within a community. A discussion of the documented existence of ex post insurance mechanisms within communities in less developed ... More


The Two-by-Two Matrix

ROBERT V. DODGE

in Schelling's Game Theory: How to Make Decisions

Published in print:
2012
Published Online:
May 2012
ISBN:
9780199857203
eISBN:
9780199932597
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199857203.003.0005
Subject:
Economics and Finance, Behavioural Economics

This chapter introduces the most basic game theory tool—the two-by-two matrix—and looks at how to read, construct, and illustrate real-life situations with the simple four-cell box. It uses Sugden's ... More


The Government as Body Politic

Peter Trepte

in Regulating Procurement: Understanding the Ends and Means of Public Procurement Regulation

Published in print:
2004
Published Online:
March 2012
ISBN:
9780198267751
eISBN:
9780191683350
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198267751.003.0003
Subject:
Law, Constitutional and Administrative Law

Market and institutional failures leading to conditions of imperfect competition which negatively affect economic efficiency (Pareto efficiency) explain many of the provisions which are common to ... More


The Modern Macroeconomic Approach and the Arrow-Debreu-McKenzie Model

Kartik B. Athreya

in Big Ideas in Macroeconomics: A Nontechnical View

Published in print:
2013
Published Online:
May 2014
ISBN:
9780262019736
eISBN:
9780262314404
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262019736.003.0002
Subject:
Economics and Finance, Macro- and Monetary Economics

How do macroeconomists talk to each other? What is the benchmark macroeconomic model? What’s a way to think about societal outcomes that are (i) not wasteful and (ii) stable?


Cost-Benefit Analysis as an Expression of Liberal Neutrality

Joseph Heath

in The Machinery of Government: Public Administration and the Liberal State

Published in print:
2020
Published Online:
August 2020
ISBN:
9780197509616
eISBN:
9780197509647
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780197509616.003.0005
Subject:
Philosophy, Political Philosophy

The past few decades have seen an expansion in the use of cost-benefit analysis as a tool for policy evaluation in the public sector. This slow, steady creep has been a source of consternation to ... More


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