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 …

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Publications

BIT: The Behavioural Insights Team · 17 March 2023 English

Instead, we need to see the longer- emerge from the “lower-level” interactions of actors term impact on a system of a collection of policies participating in the system.32 When they …

social planner: to whom should behavioural welfare economics be 92 Van Bavel, R., & Dessart, F. J. (2018) social planner: to whom should behavioural welfare economics be 607 https://chicagobeyond.org/researchequity/


IMF: International Monetary Fund · 10 March 2023 English

The economic debate underlines the reasons why discount rates of infrastructure projects should be similar, regardless the public or private source of financing, during the forecast period when flows are …

lower than the PPP rate. From a normative (welfare economics) point of view, Arrow and Lind (1970), Baumol


UNU WIDER: United Nations University World Institute for Development Economics Research · 10 March 2023 English

WIDER Working Paper 2023/41-International migration and income inequality

Harsanyi, J.C. (1953). ‘Cardinal Utility in Welfare Economics and in the Theory of Risk-Taking’. Journal


IFS: Institute for Fiscal Studies · 10 March 2023 English

© The Institute for Fiscal Studies, March 2023 7 Freeports: what are they, what do we know, and what will we know? Key findings on the Freeports programme and the …

‘People, places and public policy: some simple welfare economics of local economic development programs’, Annual


UNDP: United Nations Development Programme · 26 February 2023 English

The aim of these GUIDELINES ON GENDER-RESPONSIVE AND SOCIALLY INCLUSIVE CLIMATE COST-BENEFIT ANALYSIS (CCBA) is to facilitate factoring potential climate change impacts into a conventional project cost-benefit analysis, and ensuring …

appropriate social discount rates is anchored in welfare economics, which assumes that the marginal value of


World Bank Group · 22 February 2023 English

Governments in many low- and middle-income countries are developing health insurance products as a complement to tax-funded, subsidized provision of health care through publicly operated facilities. This paper discusses two …

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


ESRI: Economic and Social Research Institute · 13 February 2023

This follows the prece- dent in capacity-based cost allocation taken by the Irish regulator in many tariff-related decisions (Commission for Regulation of Utilities, 2022b) and also the approach taken for …

(1944). Economics of control: Principles of welfare economics. Macmillan and Company Limited, New York.


ESRI: Economic and Social Research Institute · 13 February 2023 English

Intuitively, this overcomes the distortive effects of the Hotelling-Lerner solution whereby the volumetric tariff guides efficient consumption of the good/service while the fixed ‘standing’ charge guides efficient connection to the …

(1944). Economics of control: Principles of welfare economics. Macmillan and Company Limited, New York.


World Bank Group · 1 February 2023 English

Governments in many low- and middle-income countries are developing health insurance products as a complement to tax-funded, subsidized provision of health care through publicly operated facilities. This paper discusses two …

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


NBER: National Bureau of Economic Research · 26 January 2023 English

Administrative barriers to social insurance program take-up are pervasive, including in subsidized health insurance. We conducted a randomized controlled trial with Massachusetts’ Affordable Care Act marketplace to reduce these barriers …

choice-theoretic foundations for behavioral welfare economics,” The Quarterly Journal of Economics, 2009


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