The innovation process, which is the main factor to sustain economic growth, needs for entrepreneurs who are able to take risks. An innovation must be widely broadcasted while bringing its creator a sufficient profit. This is the key for him to pursue his innovative action. This is precisely for...

This major three-volume work contains key papers which reflect the innovation and imagination that has characterised the field of welfare economics during the last 50 years. The selections range from literary treatments to the most advanced mathematical presentation. However, all readers,...