Titlebook: Welfare Economics and Social Choice Theory; Allan M. Feldman Book 19801st edition Springer Science+Business Media Dordrecht 1980 Welfare.W

平静生活

省略

Barter Exchange,undles, political candidates, meals in a restaurant, careers. In fact, the alternatives might have been potential dates, or potential spouses. People have analyzed the system of choice of spouses in terms of completeness and transitivity of preferences, and so on.

蛰伏

Production and Optimality,produced as outputs. But it has no consumers. If the exchange model was half the story, the production model is the other half. Near the end of the chapter we will indicate how the two models might be merged.

Abominate

Limpid

Compensation Criteria,ptimum, barring externality or public goods complications. The Second Fundamental Theorem says, roughly, that any Pareto optimum can be reached via an appropriately modified market mechanism, e.g., in the case of an exchange economy, the right lump sum cash transfers will allow us to get to any optimum we want.

fulmination

,Arrow’s Impossibility Theorem,ptimality vs. non-optimality. The Samuelson criterion might be completely devoid of content. The fairness and Rawls criteria might be inconsistent with the Pareto criterion. Majority voting might generate cycles, and the single-peakedness condition, which forces transitivity, is quite restrictive.

Condense

客观

Introduction,nomics, such as labor economics, health economics, economic history, the theory of financial markets, development and international trade, monetary and macroeconomics. Each of the positive branches is largely devoted to explaining why things are the way they are: e.g., why doctors are paid more than

搜寻

Barter Exchange,that chapter the set of alternatives was abstract; it might have been interpreted as virtually anything: The alternative might have been consumption bundles, political candidates, meals in a restaurant, careers. In fact, the alternatives might have been potential dates, or potential spouses. People

使苦恼

Market Exchange and Optimality,nitial allocation, and a proposal is made for a new allocation. Each group of traders decides whether or not it can, by itself, better the proposal. If no group can better it, the proposal is in the core, and is accepted.