Welfare measurement in imperfect markets : a growth theoretical approach
Author(s)
Bibliographic Information
Welfare measurement in imperfect markets : a growth theoretical approach
（New horizons in environmental economics）
E. Elgar, c2004
Available at 20 libraries
Note
A completely rewritten update of: Welfare measurement, sustainability, and green national accounting / Thomas Aronsson, Per-Olov Johansson, Karl-Gustaf Löfgren. c1997
Includes bibliographical references (p. 180-187) and index
Description and Table of Contents
Description
This book cleverly integrates the research on welfare measurement and social accounting in imperfect market economies. In their previously acclaimed volume, Welfare Measurement, Sustainability and Green National Accounting, the authors focused on the external effects associated with environmental damage and analysed their role in the context of social accounting. This book adopts a much broader perspective by analysing a wide spectrum of resource allocation problems of real-world market economies.The authors' aim is to derive exact welfare measures in imperfect market economies and compare them with their counterparts in a first-best equilibrium. Using numerical analysis, they also attempt to make the leap from theory to practical application by measuring the empirical importance of market imperfections. Such analysis provides the tools for examining whether 'real life' approximations of the welfare contribution of external effects, such as information collected by using the willingness-to-pay method, actually capture true and accurate values. Finally, the authors address the theory of cost-benefit analysis, in terms of environmental and other public policies, in dynamic general equilibrium models.
This book is an impressive investigation of the theory of social accounting, with particular emphasis on valuation problems facing imperfectly competitive markets. It will make challenging but highly rewarding reading for academics and researchers interested in environmental economics, welfare measurement, social accounting and green accounting.
Table of Contents
Contents: Preface 1. Introduction 2. Our Workhorse: The Brock Model 3. A Money-Metrics Version of Weitzman's Welfare Theorem 4. An Almost Practical Step Towards Green Accounting? 5. Green Accounting and Distortionary Taxation 6. Green Accounting and Green Taxes in the Global Economy 7. Numerical Applications: Dynamic Global Economy Models 8. Three Emerging Issues in Social Accounting 9. Welfare Measurement under Uncertainty Appendices References Index
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