Economic Welfare presents an important collection of leading writings in the fields of policy evaluation. The volume focuses on the conceptual issues behind welfare economics, drawing upon contributions from economics, moral philosophy and social philosophy. The selected readings are designed to...

Recent years have seen the development of new theories of market failure based on asymmetric information and network effects. According to the new paradigm, we can expect substantial failure in the markets for labor, credit, insurance, software, new technologies and even used cars, to give but a...