Umeå Economic Studies, Department of Economics, Umeå University
No 726:
Welfare Theory: History and Modern Results
Thomas Aronsson ()
and Karl-Gustaf Löfgren ()
Abstract: This paper contains a fairly brief, but self-contained,
version of the history of welfare economics, as well as the more modern
welfare results. We introduce public goods and asymmetric information, and
we hint at some of the modern mechanism design results. The paper also
contains a section on welfare measures in a dynamic economy.
Keywords: Welfare Theory; (follow links to similar papers)
JEL-Codes: D60; (follow links to similar papers)
66 pages, November 20, 2007
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