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An Efficiency Approach to the Evaluation of Policy Changes
Coate, Stephen - 1999
This paper describes an efficiency approach to the evaluation of policy changes. Rather than comparing the utility allocations that arise before and after a policy change is introduced, this approach evaluates a policy change by comparing it with other possible changes which might be made from...
Persistent link: https://www.econbiz.de/10012471468
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Efficient Welfare Weights
Hendren, Nathaniel - 2014
How should we measure economic efficiency? The canonical measure is an unweighted sum of willingnesses to pay. In contrast, this paper provides efficient welfare weights that implement the Kaldor-Hicks tests for efficiency but account for the distortionary cost of taxation. The shape of the...
Persistent link: https://www.econbiz.de/10012458316
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Pareto Improvements in the Contest for College Admissions
Krishna, Kala; Lychagin, Sergey; Olszewski, Wojciech; … - National Bureau of Economic Research - 2022
rankings, and investigate how such policies can improve students' welfare in a Pareto sense. Pooling affects the equilibrium … allocation of studentso colleges, which hurts some students and benefits others, but also affects the effort students exert. We … admissions in Turkey. We find that a policy that pools a large fraction of the lowest performing students leads to a Pareto …
Persistent link: https://www.econbiz.de/10013334438
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Horizontal Equity : New Measures, Unclear Principles
Kaplow, Louis - 2000
Alan Auerbach and Kevin Hassett offer a new measure of horizontal equity (HE) that is designed to overcome deficiencies in prior indexes. There is, however, a fundamental problem that their effort shares with their predecessors' attempts: the underlying rationale for pursuing HE at the expense...
Persistent link: https://www.econbiz.de/10012471118
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Any Non-Individualistic Social Welfare Function Violates the Pareto Principle
Kaplow, Louis - 1999
The public at large, many policymakers, and some economists hold views of social welfare that attach some importance to factors other than individuals' utilities. This note shows that any such non-individualistic notion of social welfare conflicts with the Pareto principle
Persistent link: https://www.econbiz.de/10012471750
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Pigou Creates Losers : On the Implausibility of Achieving Pareto Improvements from Efficiency-Enhancing Policies
Sallee, James M. - 2019
Economic theory predicts that efficiency-enhancing policy changes can be made to benefit everyone through the use of …
Persistent link: https://www.econbiz.de/10012479780
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Characterization, Existence, and Pareto Optimality in Markets with Asymmetric Information and Endogenous and Asymmetric Disclosures : Basic Analytics of Revisiting Rothschild-Stigl...
Stiglitz, Joseph E. - 2019
We study the Rothschild-Stiglitz model of insurance markets, introducing endogenous information disclosure about insurance sales and purchases by firms and consumers. We show that a competitive equilibrium exists under unusually mild conditions, and characterize the unique equilibrium outcome....
Persistent link: https://www.econbiz.de/10012480195
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Limited Capital Market Participation and Human Capital Risk
Berk, Jonathan - 2010
The non-tradability of human capital is often cited for the failure of traditional asset pricing theory to explain …
Persistent link: https://www.econbiz.de/10012462943
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Schedule Selection by Agents : from Price Plans to Tax Tables
Luttmer, Erzo F.P. - 2008
structure is relevant in many applications. We develop the theory underlying optimal menus of non-linear schedules and prove …
Persistent link: https://www.econbiz.de/10012464839
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Pareto Optimality in the Extraction of Fossil Fuels and the Greenhouse Effect : A Note
Sinn, Hans-Werner - 2007
This note generalizes the Solow-Stiglitz efficiency condition for natural resources to the problem of fossil fuel extraction with a greenhouse effect. The generalized optimality condition suggests that the greenhouse effect implies overextraction in the sense of leaving future generations a...
Persistent link: https://www.econbiz.de/10012465196