Neuware -This book examines the implications of The General Theory of Second Best for analyzing the economic efficiency of non-government conduct or government policies in an economically efficient way. It develops and legitimates an economically efficient economic-efficiency-analysis protocol with three unique characteristics: First, the protocol focuses separately on each of a wide variety of categories of economic inefficiency, many of which conventional analyses ignore. Second, it analyzes the impact of conduct or policies on each of these categories of economic inefficiency, primarily by predicting the respective conduct�s/policy�s impact on the distortion that the economy�s various Pareto imperfections generate in the profits yielded by the resource allocations associated with the individual categories of economic inefficiency�i.e., on the difference between their profitability and economic efficiency. And third, it is third-best�i.e., it instructs the analyst toexecute a theoretical or empirical research project if and only if the economic-efficiency gains the project is expected to generate by increasing the accuracy of economic-efficiency conclusions exceed the predicted allocative cost of its execution and public financing. The book also uses the protocol to analyze the economic efficiency of specific policies so as to illustrate both how it differs from the protocols that most applied welfare economists continue to use and how its conclusions differ from those produced by standard analysis.Springer Verlag GmbH, Tiergartenstr. 17, 69121 Heidelberg 380 pp. Englisch.

Bestandsnummer des Verk�ufers 9783030433598

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Bibliografische Details

Titel: Welfare Economics and Second-Best Theory
Verlag: Springer International Publishing, Springer International Publishing Mai 2020
Erscheinungsjahr: 2020
Sprache: Englisch
ISBN-10: 3030433595
ISBN-13: 9783030433598
Einband: Buch
Zustand: Neu
Abmessungen: Breite: 241 mm, H�he: 160 mm, Tiefe: 26 mm
Gewicht: 735 Gramm

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Inhaltsangabe

This book examines the implications of The General Theory of Second Best for analyzing the economic efficiency of non-government conduct or government policies in an economically efficient way. It develops and legitimates an economically efficient economic-efficiency-analysis protocol with three unique characteristics: First, the protocol focuses separately on each of a wide variety of categories of economic inefficiency, many of which conventional analyses ignore. Second, it analyzes the impact of conduct or policies on each of these categories of economic inefficiency, primarily by predicting the respective conduct's/policy's impact on the distortion that the economy's various Pareto imperfections generate in the profits yielded by the resource allocations associated with the individual categories of economic inefficiency-i.e., on the difference between their profitability and economic efficiency. And third, it is third-best-i.e., it instructs the analyst to execute a theoretical or empirical research project if and only if the economic-efficiency gains the project is expected to generate by increasing the accuracy of economic-efficiency conclusions exceed the predicted allocative cost of its execution and public financing. The book also uses the protocol to analyze the economic efficiency of specific policies so as to illustrate both how it differs from the protocols that most applied welfare economists continue to use and how its conclusions differ from those produced by standard analysis.

�ber die Autorin bzw. den Autor

Richard Markovits holds a Ph.D. in economics from the London School of Economics and an L.L.B. from Yale Law School. He currently holds the John B. Connally Chair in Law at the University of Texas Law School. He has taught at several other law schools and economics faculties in both the United States and Germany. From 1981-1983, he was Co-Director of the Centre for Socio-Legal Studies at Wolfson College, Oxford. His research chiefly focuses on Welfare Economics, Industrial Organization, Jurisprudence, and Constitutional Law.

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