Measuring Economic Welfare : New Methods

Language: English

Published by Cambridge University Press, 1983

0521248620 / 9780521248624

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Seller: AHA-BUCH GmbH, Einbeck, GermanyAHA-BUCH GmbH

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Druck auf Anfrage Neuware - Printed after ordering - Professor McKenzie proposes and formulates a method composed of operational procedures designed to facilitate the evaluation of economic projects and policies. This method is discussed fully, illustrated by simple examples, and compared with alternative procedures. An outline of a computer program that enables readers to undertake their own calculations is included. In order to present the approach clearly, the author provides an exposition of the fundamental ideas and the main alternative approaches to the problem. These rely on various forms of index numbers and consumer surplus. However, as is well known, such measures are not capable of correctly ordering the various alternatives under consideration, except under highly unrealist assumptions. In this book the author suggests the abandonment of this traditional approach based on the concept of 'willingness-to-pay' or the conpensating variation. Instead, the measure that Samuelson has called the 'money-metric' should become the cornerstone of applied welfare economics.…

Seller Inventory # 9780521248624

Title
Measuring Economic Welfare : New Methods
Author
George W. McKenzie
Publisher
Cambridge University Press
Publication year
1983
Condition
Neu
Binding
Buch
Language
English
ISBN 10
0521248620
ISBN 13
9780521248624
Item weight
448 grams
Dimensions
235x157x15 mm

AHA-BUCH GmbH

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