Welfare economics
Copyright policy )Welfare economics
This paper presents the Paretian Watershed and the fundamental theorems of welfare economics. It distinguishes the British approach (à la Kaldor-Hicks) from the American approach (à la Bergson-Samuelson) to new welfare economics. It develops the more recent domains of happiness economics, the comparative approach by Amartya Sen, and the theory of fair allocation by Marc Fleurbaey.
JEL: D - Microeconomics/D.D6 - Welfare Economics, fair allocation,happiness economics,Welfare economics,Kaldor-Hicks,Social Welfare Function,Pareto,comparative approach, Welfare economics, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, [SHS.ECO] Humanities and Social Sciences/Economics and Finance
JEL: D - Microeconomics/D.D6 - Welfare Economics, fair allocation,happiness economics,Welfare economics,Kaldor-Hicks,Social Welfare Function,Pareto,comparative approach, Welfare economics, [SHS.ECO]Humanities and Social Sciences/Economics and Finance, [SHS.ECO] Humanities and Social Sciences/Economics and Finance
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