Welfare Economics

Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level.Attempting to apply the principles of welfare economics gives rise to the field of public economics, the study of how government might intervene to improve social welfare. Welfare economics also provides the theoretical foundations for particular instruments of public economics, including cost–benefit analysis, while the combination of welfare economics and insights from behavioral economics has led to the creation of a new subfield, behavioral welfare economics.The field of welfare economics is associated with two fundamental theorems. The first states that given …

Following
Wikipedia Share

Publications

Does Gender Equality in Labor Participation Bring Real Equality? Evidence from Developed …

World Bank Group · 1 April 2021 English

Drawing on various macro- and micro-data sources, the authors present robust evidence of an inverted U-shaped relationship between female labor force participation and inequality. Overall, female labor force participation is …

individual belongs to. The strand of labor and welfare economics literature that informs this paper tends to


Does Gender Equality in Labor Participation Bring Real Equality? Evidence from Developed …

World Bank Group · 1 April 2021 English

Drawing on various macro- and micro-data sources, the authors present robust evidence of an inverted U-shaped relationship between female labor force participation and inequality. Overall, female labor force participation is …

individual belongs to. The strand of labor and welfare economics literature that informs this paper tends to


Lessons from COVID-19: Promoting Sustainability in Food Production to Limit Zoonotic Transmissions

ORF · 19 March 2021 English

Throughout contemporary history, it is when an environmental crisis of a massive scale emerges that the world is reminded of the unsustainable nature of human economy. As the crisis develops, …

aspects are integral components and infuse welfare economics and societal cost-benefit analyses into the


A Soul's View of the Optimal Population Problem

NBER · 12 March 2021 English

A long-standing challenge for welfare economics is to develop welfare criteria that can be applied to allocations with different population levels. Such a criterion is essential to resolve the optimal

ABSTRACT A long-standing challenge for welfare economics is to develop welfare criteria that can be for fixed populations.5 Even in traditional welfare economics, we face the problem of comparing things without 6 Conclusion A fundamental challenge for welfare economics is do develop welfare criteria that can be Population Issues in Social Choice Theory, Welfare Economics and Ethics. Cambridge University Press. Boucekkine Harsanyi, John C. 1953. “Cardinal Utility in Welfare Economics and in the Theory of Risk-Taking.” Journal


‘You Will:’ A Macroeconomic Analysis of Digital Advertising

NBER · 4 March 2021 English

A model is developed where traditional and digital advertising finance the provision of free media goods and affect price competition. The economy is not efficient. Media goods are under provided. …

(4): 88-123. [25] Negishi, Takashi. 1960. “Welfare Economics and Existence of an Equilibrium for a Com-


Does Private Equity Investment in Healthcare Benefit Patients? Evidence from Nursing Homes

NBER · 18 February 2021 English

The past two decades have seen a rapid increase in Private Equity (PE) investment in healthcare, a sector in which intensive government subsidy and market frictions could lead high-powered for-profit …

Arrow, Kenneth J, “Uncertainty and the welfare economics of medical care,” The American Economic Review


Cross-sectoral Externalities Related to Natural Resources and Ecosystem Services

NBER · 18 February 2021 English

Standard approaches to environmental and natural resource use externalities generally focus on single-sector resources and user groups. Remedies include Pigouvian-style government constraints, small group controls following Elinor Ostrom, or less …

46(4), 413-427. Groeneveld, R. A. (2020). Welfare economics and wicked problems in coastal and marine


Auto-Enrollment Retirement Plans for the People: Choices and Outcomes in OregonSaves

NBER · 11 February 2021 English

Oregon recently launched an automatic-enrollment retirement savings program for private sector workers lacking access to other workplace retirement plans. We analyze participation choices, account balances, and inflow/outflow data using administrative …

Andrey Fradkin, and Igor Popov. 2015. “The Welfare Economics of Default Options in 401(k) Plans.” American


What Do Happiness Data Mean? Theory and Survey Evidence

NBER · 4 February 2021 English

What utility notion do self-reported well-being (SWB) questions measure? We clarify the assumptions that underlie existing applications regarding the (i) life domains, (ii) time horizons, and (iii) other-regarding preferences captured …

ch. 6), there is a strong tradition in welfare economics of using lifetime utility. To model preferences the relevant component of preferences for welfare economics is often considered to be exclusively the


Time Aggregation in Health Insurance Deductibles

NBER · 4 February 2021 English

Health insurance plans increasingly pay for expenses only beyond a large annual deductible. This paper explores the implications of deductibles that reset over shorter timespans. We develop a model of …

Arrow, Kenneth J. 1963. “Uncertainty and the Welfare Economics of Medical Care.” Amer- ican Economic Review


View more