Equity, Efficiency and Social Choice by Donald E Campbell
Professor Campbell addresses the standard social choice questions about the allocation of public and private goods within the special framework of welfare economics. He also proves some fundamental theorems on efficiency and equity in public policy analysis. Arrow's impossibility theorem discloses some elementary conditions under which full efficiency implies that a social welfare function is insensitive to the preferences of all but a single individual. This book argues that any degree of sensitivity to individual preferences implies that the social welfare function is independent of the preferences of all but one person. In this and other ways, the absence of meaningful efficiency-equity trade-offs is demonstrated. The framework is a conventional allocation space with standard economic restrictions on the nature of individual preferences. Classical impossibility theorems, including Arrow's, are proved en route to the main results.
Campbell, Donald E.: - Donald E. Campbell is CSX Professor of Economics and Public Policy at William and Mary College, Williamsburg, Virginia, where he has taught since 1990. He previously served as Professor of Economics at the University of Toronto from 1970 to 1990. He is the author of Resource Allocation Mechanisms (Cambridge University Press, 1987), and Equity, Efficiency and Social Choice (1992). His published research has appeared in leading journals such as Econometrica, the Journal of Political Economy, American Economic Review, the Journal of Economic Theory, Review of Economics Studies, and the Journal of Mathematical Economics.
| SKU | Unavailable |
| ISBN 13 | 9780198287087 |
| ISBN 10 | 0198287089 |
| Title | Equity, Efficiency and Social Choice |
| Author | Donald E Campbell |
| Condition | Unavailable |
| Binding Type | Hardback |
| Publisher | Oxford University Press |
| Year published | 1992-06-01 |
| Number of pages | 197 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |