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The Prescriptive-Moral and Legal Relevance of Allocative-Efficiency Conclusions

Richard S. Markovits

in Truth or Economics: On the Definition, Prediction, and Relevance of Economic Efficiency

Published in print:
2008
Published Online:
October 2013
ISBN:
9780300114591
eISBN:
9780300145229
Item type:
chapter
Publisher:
Yale University Press
DOI:
10.12987/yale/9780300114591.003.0007
Subject:
Economics and Finance, History of Economic Thought

This chapter elaborates the prescriptive-moral and legal relevance of allocative-efficiency conclusions. The relevance of the allocative efficiency of a choice to its justness in a liberal, ... More


Information, Equilibrium, and Efficiency Concepts

Markus K. Brunnermeier

in Asset Pricing under Asymmetric Information: Bubbles, Crashes, Technical Analysis, and Herding

Published in print:
2001
Published Online:
November 2003
ISBN:
9780198296980
eISBN:
9780191596025
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198296983.003.0001
Subject:
Economics and Finance, Financial Economics

Ch. 1 shows the reader how to model asymmetric information and knowledge in theoretical economics. It also introduces the concept of higher‐order knowledge. For the analysis of bubbles it is ... More


The meaning and existence of restricted competition

Okeoghene Odudu

in The Boundaries of EC Competition Law: The Scope of Article 81

Published in print:
2006
Published Online:
March 2012
ISBN:
9780199278169
eISBN:
9780191699962
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199278169.003.0005
Subject:
Law, EU Law, Competition Law

This chapter explains the meaning of restricted competition and the reason for its existence. Also, this chapter is concerned with the main problem of what is meant by a restriction of competition. ... More


Labour Market Institutions and Income Inequality: What are the New Insights after the Washington Consensus?

Rolph van der Hoeven and Catherine Saget

in Inequality Growth and Poverty in an Era of Liberalization and Globalization

Published in print:
2004
Published Online:
August 2004
ISBN:
9780199271412
eISBN:
9780191601255
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271410.003.0008
Subject:
Economics and Finance, Development, Growth, and Environmental

Looks at some of the labour market outcomes of recent economic reforms. The extent to which labour market institutions affect the relationship between reform policies and income inequality remains ... More


Single-Chooser Rules

Ian Ayres

in Optional Law: The Structure of Legal Entitlements

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226033464
eISBN:
9780226033488
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226033488.003.0003
Subject:
Economics and Finance, Econometrics

To date, there has been little analysis of a very basic question: to whom should courts give the initial entitlement? Most authors suggest that courts should grant the initial entitlement to the ... More


The Government as Purchaser

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/9780198267751.003.0002
Subject:
Law, Constitutional and Administrative Law

Procurement regulation has been developed largely by societies which rely on concepts based on welfare economics in the market economy and is currently being adopted in societies which are embracing ... More


The Economic Theory of Privatization

BERNARDO BORTOLOTTI DOMENICO SINISCALCO

in The Challenges of Privatization: An International Analysis

Published in print:
2004
Published Online:
April 2004
ISBN:
9780199249343
eISBN:
9780191600845
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199249342.003.0002
Subject:
Economics and Finance, Financial Economics

This chapter presents a concise survey of the economic literature of privatization providing the theoretical backing for the empirical analyses carried out in the book. The chapter shows why private ... More


Higher-Order Liability Rules

Ian Ayres

in Optional Law: The Structure of Legal Entitlements

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226033464
eISBN:
9780226033488
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226033488.003.0005
Subject:
Economics and Finance, Econometrics

This chapter analyzes higher-order liability rules that allow a series of reciprocal takings by the litigants. It shows that second-order liability rules (sometimes also referred to as “unconstrained ... 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


Measuring and Analyzing Cross-Country Differences in Firm Dynamics

Eric Bartelsman, John Haltiwanger, and Stefano Scarpetta

in Producer Dynamics: New Evidence from Micro Data

Published in print:
2009
Published Online:
February 2013
ISBN:
9780226172569
eISBN:
9780226172576
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226172576.003.0002
Subject:
Economics and Finance, Microeconomics

This chapter reports the results from a large research project bringing together researchers from twenty-four countries to standardize data definitions and construct comparable statistics on producer ... More


Testing the Bargaining Model

Ian Ayres

in Optional Law: The Structure of Legal Entitlements

Published in print:
2005
Published Online:
February 2013
ISBN:
9780226033464
eISBN:
9780226033488
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226033488.003.0010
Subject:
Economics and Finance, Econometrics

As a matter of theory, liability rules might be more efficient than property rules even when bargaining is possible. But there are reasons to be skeptical of the result. This chapter describes the ... More


Concluding Remarks

Joseph E. Stiglitz and Bruce C. Greenwald

in Creating a Learning Society: A New Approach to Growth, Development, and Social Progress

Published in print:
2014
Published Online:
November 2015
ISBN:
9780231152143
eISBN:
9780231525541
Item type:
chapter
Publisher:
Columbia University Press
DOI:
10.7312/columbia/9780231152143.003.0017
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter summarizes the preceding discussions and presents some final thoughts. The objective of this book has been to show the potential that the economics of learning and innovation has for ... More


Optimal Progressive Taxation in a Model with Endogenous Skill Supply

Konstantinos Angelopoulos, Stylianos Asimakopoulos, and James Malley

in Public Sector Economics and the Need for Reforms

Published in print:
2016
Published Online:
January 2017
ISBN:
9780262034449
eISBN:
9780262332361
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262034449.003.0006
Subject:
Economics and Finance, Public and Welfare

For a reforming government intent on improving efficiency, a natural way to discriminate between alternatives is via optimal taxation. In light of this, we examine quantitatively the extent of ... More


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