critique of welfare economics and his concern with underdevelopment and poverty. It is argued that Sen has done a great deal to … rescue welfare economics from the consequences of methodological individualism by seeking an objective basis for comparisons …

A recurrent concern of researchers who measure the cost of protection is that welfare estimates based on models with …

will improve welfare if the benefits of a reduced domestic price distortion exceed the resource cost of smuggling …. Strengthening of anti-smuggling activity need not improve welfare if it induces the devotion of additional resources to activities …

Proposes a model which shows that Stackelberg competition is not necessarily welfare- enhancing compared with Cournot … than Cournot. Derives conditions under which in this framework Stackelberg competition leads to lower expected welfare, in …

policies. However, evidence on which the measured distributional welfare weights are based is neither broad enough nor …/methodology/approach – An important component of the welfare weight measure advocated by HM Treasury is the elasticity of marginal utility of … paper will be of interest to academics specialising in welfare economics and to practitioners involved in social project …

This article analyses the welfare implications of the customs unions in the presence of multinational corporations for … welfare and employment of the small open economy if the multinational sector is relatively capital-intensive. However, the … welfare and the employment effects of trade diversion I are ambiguous whereas trade diversion II affects employment level …

and analyze the differences for business cycle dynamics and welfare. Design/methodology/approach–The paper builds a … volatility over the cycle and have stronger negative welfare effects. Severance payments have a lower volatility, reduce … unemployment, and reduce welfare by a smaller amount. Practical implications–Policy reforms should be aimed to use severance …

Recent studies on the welfare implications of internationally mobile capital for a country employing commercial policy … such policies is welfare-decreasing under CRS conditions. The analysis to encompass variable-returns-to-scale (VRS) is …