منابع مشابه
Endogenous Public Information and Welfare
This paper performs a welfare analysis of economies with private information when public information is endogenously generated and agents can condition on noisy public statistics in the rational expectations tradition. Equilibrium is not (restricted) efficient even when feasible allocations share similar properties to the market context (e.g., linear in information). The reason is that the mark...
متن کاملPublic health and welfare.
The Author 2011. Published by Oxford University Press on behalf of the European Public Health Association. All rights reserved. doi:10.1093/eurpub/ckr186 Advance Access published on 1 December 2011 . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . .. . . . . . . . . . . ...
متن کاملWelfare Economics and Public Finance
This contribution deals firstly with the differences between market action and government action, and then explores the justification for government intervention based on concepts of economic efficiency and equity. The chapter then proceeds to discuss individual cases in which unregulated private market outcomes are generally considered to violate this criterion.
متن کاملWelfare Economics and Public Choice
Welfare economics provides the basis for judging the achievements of markets and policy makers in allocating resources. Its most powerful conceptual tool is the utility possibility frontier. This defines the set of utility allocations that can be achieved in a society subject to the constraints of tastes and technologies. Any allocation on the frontier cannot be Pareto dominated and hence would...
متن کاملEndogenous Search , Price Dispersion , and Welfare
This paper studies the welfare cost of inflation in a frictional monetary economy with endogenous consumer search. Equilibrium entails price dispersion, where sellers compete for buyers by posting prices. We identify three channels through which inflation affects welfare. The real balance channel is the source of welfare loss. Its interaction with the price posting channel generates a welfare c...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2011
ISSN: 1556-5068
DOI: 10.2139/ssrn.1947311