Welfare Measurement in Imperfect Markets

Welfare Measurement in Imperfect Markets

A Growth Theoretical Approach

eBook - 2004
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The concept of social accounting is closely related to the idea of using and designing national accounts in such away as to be able to measure national well-being. The authors (professors of economics at Umea U., Sweden), citing The New Palgrave Dictionary of Economics, say that social accounting refers to "the body of data that portrays a nation's economic activity in terms of output produced and incomes created, the stocks of capital and other inputs required, and the financial pathways and instruments used." In discussing the theory of social accounting, they emphasize valuation problems facing imperfectly competitive market economies. They introduce a model for dealing with resource allocation problems in market economies, and apply it to such issues as energy release emissions and the rise of stock pollution, welfare effects of changes in emission taxes, welfare measurement related to transboundary environmental problems. They also consider welfare measurement in the context of differential games, unemployment, and distributional objectives and explore uncertainty in the study of social accounting and cost-benefit analysis. Annotation ©2004 Book News, Inc., Portland, OR (booknews.com)

Publisher: Cheltenham, UK ; Northhampton, MA : Edward Elgar, c2004
ISBN: 9781845421519
1845421515
Characteristics: 1 online resource (viii, 196 p.) : ill

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