toolsofnormativeanalysis-預(yù)覽頁
【正文】 Eve’s utility Adam’s utility W = F(UAdam, UEve) Increasing social welfare 326 Maximizing Social Welfare Eve’s utility Adam’s utility i ii iii 327 But the government doesn’t have to intervene with the markets. 328 The Second Fundamental Theorem Of Welfare Economics ? The society can attain any Pareto efficient allocation of resources by making a suitable assignment of initial endowments (redistributing ine) and then letting the markets work. 329 Market Failure ? Market Power – Monopoly ? Nonexistence of Markets – Asymmetric information – Externality – Public good 330 Buying into Welfare Economics ? Individualistic outlook – Merit goods ? Results orientation ? Coherent framework for analyzing policy – Will it have desirable distributional consequences? – Will it enhance efficiency? – Can it be done at a reasonable cost? 。CHAPTER 3 Tools of Normative Analysis Copyright
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