The paper presents a concise account of recent results on the axiomatization of various welfare measures. Following the introduction and discussion of some elementary properties that a welfare measure should satisfy valid measures are derived. In particular, the Hisksian equivalent and...

The optimal pricing rule for public enterprises maximizing welfare under a profit constraint is well known. The paper extends the analysis to the case of production externalities and considers price regulation under various forms of environmental regulation which is assumed to be performed by a...

In an important contribution in 1987, Atkinson and Bourguignon proposed dominance criteria which allow us to compare income distributions for heterogeneous populations. They are defined by the unanimous preference of the dominating distribution by a set of welfare functions which satisfy some...