Applied Welfare Economics

Cost-Benefit Analysis of Projects and Policies

Business & Finance, Accounting, Governmental, Budgeting
Cover of the book Applied Welfare Economics by Massimo Florio, Taylor and Francis
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Massimo Florio ISBN: 9781317814245
Publisher: Taylor and Francis Publication: February 5, 2014
Imprint: Routledge Language: English
Author: Massimo Florio
ISBN: 9781317814245
Publisher: Taylor and Francis
Publication: February 5, 2014
Imprint: Routledge
Language: English

What is the effect of a new infrastructure on the well-being of a local community? Is a tax reform desirable? Does the privatization of a telecommunication provider increase social welfare? To answer these questions governments and their policy advisors should have in mind an operative definition of social welfare, and cannot rely on simple official statistics, such as GDP. The price we observe are often misleading as welfare signals, and costs and benefits for the society should be based on ‘shadow prices’, revealing the social opportunity costs of goods and of changes of the world. This book explains how to apply these welfare economics ideas to the real world.

After a theoretical discussion of the concept of social welfare, a critical analysis of the traditional doctrine of welfare economics embodied in the Two Fundamental Theorems, and a presentation of social cost-benefit analysis, the book introduce the readers to an applied framework. This includes the empirical estimation of shadow prices of goods, of the social cost of labour and capital, the assessment of risk. This book also includes the state of the art of international experience with CBA, including ex-post evaluation of major projects, economic rates of return in different sectors, and a case study on privatisation, is presented.

This book offers a unique and original blend of theory, empirics and experience. The theoretical discussion clarifies why shadow prices are not virtual market equilibrium prices, as they arise as the solution of a planning problem, often with governments and economic agents constrained in their information and powers. The empirical chapters show how to compute proxies of the shadow prices in simple ways. The experience chapters draw from first hand research, gained by the Author and his collaborators over many years of advisory work for the European Commission and other international and national institutions.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

What is the effect of a new infrastructure on the well-being of a local community? Is a tax reform desirable? Does the privatization of a telecommunication provider increase social welfare? To answer these questions governments and their policy advisors should have in mind an operative definition of social welfare, and cannot rely on simple official statistics, such as GDP. The price we observe are often misleading as welfare signals, and costs and benefits for the society should be based on ‘shadow prices’, revealing the social opportunity costs of goods and of changes of the world. This book explains how to apply these welfare economics ideas to the real world.

After a theoretical discussion of the concept of social welfare, a critical analysis of the traditional doctrine of welfare economics embodied in the Two Fundamental Theorems, and a presentation of social cost-benefit analysis, the book introduce the readers to an applied framework. This includes the empirical estimation of shadow prices of goods, of the social cost of labour and capital, the assessment of risk. This book also includes the state of the art of international experience with CBA, including ex-post evaluation of major projects, economic rates of return in different sectors, and a case study on privatisation, is presented.

This book offers a unique and original blend of theory, empirics and experience. The theoretical discussion clarifies why shadow prices are not virtual market equilibrium prices, as they arise as the solution of a planning problem, often with governments and economic agents constrained in their information and powers. The empirical chapters show how to compute proxies of the shadow prices in simple ways. The experience chapters draw from first hand research, gained by the Author and his collaborators over many years of advisory work for the European Commission and other international and national institutions.

More books from Taylor and Francis

Cover of the book Routledge Handbook of Physical Cultural Studies by Massimo Florio
Cover of the book Religion in World History by Massimo Florio
Cover of the book Savoring by Massimo Florio
Cover of the book Wild Child by Massimo Florio
Cover of the book J.M. Coetzee's Austerities by Massimo Florio
Cover of the book Shakespeare's Wordplay by Massimo Florio
Cover of the book Euthanasia, Ethics and the Law by Massimo Florio
Cover of the book The Prop Effects Guidebook by Massimo Florio
Cover of the book Tearoom Trade by Massimo Florio
Cover of the book Understanding Research in Clinical and Counseling Psychology by Massimo Florio
Cover of the book Quality of Life and Public Management by Massimo Florio
Cover of the book The Economic Development Process in the Middle East and North Africa by Massimo Florio
Cover of the book The Unknown Max Weber by Massimo Florio
Cover of the book Military Control in Pakistan by Massimo Florio
Cover of the book B.F. Skinner: Consensus And Controversy by Massimo Florio
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy