We develop a three-sector general equilibrium model and attempt to examine the impact of FDI in healthcare sector on the welfare and human capital stock of the economy. The greater the size of the healthcare sector the higher and better would be the medical facilities available to each member of...

This paper discusses both social welfare and social choice using Arrow’s impossibility theorem for multi-profile preference case and two versions of it for single-profile preference case. Between these two versions first one assumes a two-individual society and the second one, which is similar...

Mumbai city is a financial capital of country but at present it is facing acute pressure of rise in population and inadequate infrastructure facilities and services. All the infrastructure facilities are overcrowded and services are not sufficient to present population, commerce and trade...

This paper illustrates how Crossing Generalised Lorenz (GL) curves can be used to identify the best income distribution on social welfare grounds within a set of alternative income distributions generated by different policy options. It starts by illustrating two alternative income distributions...

For nearly four decades now, the conventional wisdom has been that the migration of human capital (skilled workers) from a developing country to a developed country is detrimental to the developing country. However, this perception need not hold. A well designed migration policy can result in a...

Corporate social responsibility (CSR) is in vogue in recent times. It has been widely received by socially concerned people in business, academia, and NGOs that CSR would lend support to the improvement in social welfare and the protection of environment. However, the question that whether...

We develop a model of social choice over lotteries, where people's psychological characteristics are mutable, their preferences may be incomplete, and approximate interpersonal comparisons of well-being are possible. Formally, we suppose individual preferences are described by a...

This paper focuses on the necessary conditions required in order to exploit the substitution effect which arises when there is a shift in demand induced by import quotas under imperfect competition. The protective policy succeeds if the substitution effect shifts in favor of goods produced by...

This study uses new abatement cost curves for nitrogen oxides relying on disaggregated source data to optimise NOX abatement in a European framework. Linear and non-linear damage cost functions are assumed for NOX emissions and their impacts on the empirical results are explored for first time....

Using HIES 2000 data, the paper presents asset based poverty information so that it is possible to provide incentives in the form of social benefit and fiscal support to the group of people who needs it most. While income based measurements and other methods are available to characterise...