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It's fundamental: welfare theorems, market failures, and the turn from "public finance" to "public economics"

Medema, Steven G. - 2022 - Version 1.3

economists had done "work of high quality and great quantity in the field of taxation," the theory of public expenditure had been … inquiries. Indeed, by the mid-1980s the 'public expenditure theory' lacuna lamented by Samuelson had largely been filled with … explain this transformation, locating its origins in Richard Musgrave's normative theory of the public household and the …

Persistent link: https://www.econbiz.de/10013411358

Three criteria for evaluating social programs

García, Jorge Luis; Heckman, James J. - 2022

This paper examines the economic foundations of three criteria used for evaluating the costs and benefits of social programs. Some criteria do not consider the scale of programs or address the costs associated with programs that expand or contract the total government budget. A recent addition...

Persistent link: https://www.econbiz.de/10013382023

On criteria for evaluating social programs

García, Jorge Luis; Heckman, James J. - 2022

Persistent link: https://www.econbiz.de/10013171589

Chapter 12 Welfare Theory and Valuation

Bockstael, Nancy E.; Freeman, A. Myrick - In: Handbook of environmental economics : volume 2, Valuing …, (pp. 517-570). 2005

development of the economic theory and techniques for measuring the demands for nonmarketed goods, and in this chapter we attempt … theory and practical empirical models. …

Persistent link: https://www.econbiz.de/10014023927

A Difficulty in the Concept of a Social Discount Rate

Weikard, Hans-Peter - 2004

Persistent link: https://www.econbiz.de/10014072056

The economics of participatory value evaluation

Dekker, Thijs; Koster, Paul; Mouter, Niek - 2019

This paper develops a novel approach to the economic evaluation of public policies: participatory value evaluation (PVE). PVE involves citizens directly in decisions of the government, taking into account governmental and individual budget constraints. Citizens receive reliable information on...

Persistent link: https://www.econbiz.de/10011960504

Conducting cost benefit analysis in expected utility units using revealed social preferences

Canning, David - 2023

Assuming individual preferences satisfy the Von Neumann-Morgenstern axioms for expected utility we show how we can measure an individual's expected utility of any state using their willingness to accept a gamble over two reference points. The utility function captures the diminishing marginal...

Persistent link: https://www.econbiz.de/10013490730

Counting what counts : moral considerations and market surplus

Koster, Paul - 2023

Public benefit-cost analysis of market policies often relies on a particular definition of market surplus that adds up consumer and producer surplus and external costs. This paper provides an overview of conceptual strategies to deal with moral considerations and then develops an adjusted market...

Persistent link: https://www.econbiz.de/10014233415

Reconciliation once and for all : economic impact evaluation and social cost benefit analysis

Banerjee, Onil; Cicowiez, Martín; Moreda, Adela - 2017

There is a debate in the literature on the appropriate methods and metrics for evaluating the economic impacts of tourism investments. Available analytical techniques include input-output modelling, computable general equilibrium modelling, cost benefit analysis, expenditure-based methods, and...

Persistent link: https://www.econbiz.de/10011785007

A Note on National Income in a Dynamic Economy

Heal, Geoffrey - 2011

We review the properties of the conventional static measure of changes in economic welfare, national income, in a dynamic economy. We show that it is possible to establish attractive welfare properties by rather simple arguments and that this variable can be estimated from current data. Its...

Persistent link: https://www.econbiz.de/10012714603