profits decline. Overall welfare rises. Our theoretical results have implications for estimating the elasticity of the labor …

switch to private provision welfare improving for all agents including public employees. …

to avoid losses. In this paper, we provide the first welfare analysis under reference-dependent preferences. We decompose … the welfare impact of changes in reference points and prices into direct and behavioral effects, and describe how these … grounded in common empirical findings, we find that lowering reference points robustly improves welfare, while the welfare …

affects trade patterns and economic welfare. We find that linguistic similarity within a country accounts for about 10 percent … demonstrates that domestic language diversity has significant implications for Canada’s welfare but also sizable economic …

This paper analyzes nature protection by a social planner under different ?utilitarian? social welfare functions. For … efficient allocations when social welfare is anthropocentric (only consumers have positive welfare weights), and when social … welfare is nonanthropocentric (all species have positive welfare weights). Not surprisingly, biocentric social welfare calls …