Kaldor-Hicks efficiency

economic growth and environment. The neoclassical welfare economics explains the economic production and behavior by using the mainstream terms of economic literature. Specifically, it focuses on the Pareto efficiency and suggests two theorems related to it. Firstly, the Pareto efficiency is stated by maximization of preferences under a restricted

Ecological Economics vs Neoclassicial Welfare Economics In the past, economic school of thought regarded the resources as unlimited and focused on more production under the light of the unlimited growth assumption. Every economic action was suggested to only consider about making more profit. While the economy and the human population are growing; more natural resources are used and more pollution is observed. Human become to deal with the results of its production such as enviromental problems and

question depends crucially on the objective being pursued. When comparing different alternatives, under the classical assumptions of competitive markets (the Arrow-Debreu economy) and Pareto efficiency, a reallocation is said to be efficient if no one in the economy is made

c. Legalizing Marijuana: Traditional Arguments Against Legalization Opponents of legalization will typically admit that some of the arguments presented by proponents are legitimate and persuasive but believe that both the physical and societal results outweigh any right to personal autonomy or economic benefit. They begin by pointing out that any revenue gains that will be achieved by legalization will be completely mitigated by the cost that usage of marijuana imposes on the society. In 2016 alcohol

Game Theory and Economic Analysis Game Theory and Economic Analysis presents the wide range of current contributions of game theory to economics. The chapters fall broadly into two categories. Some lay out in a jargon-free manner a particular branch of the theory, the evolution of one of its concepts, or a problem that runs through its development. Others are original pieces of work that are significant to game theory as a whole. After taking the reader through a concise history of game theory

Table of Contents I.) INTRODUCTORY PRINCIPLES 2 A.) Efficiency and Other Concepts 2 B.) Agency and Partnership Law 2 II.) INTRODUCTION TO THE CORPORATE FORM 16 A.) Formation and Structure 16 B.) Debt, Equity, and Valuation 22 III.) CONTROL OF CORPORATE DECISIONS 32 A.) The Role of the Shareholder 32 B.) Management Obligations 50 1.) Duty of Care 51 2.) Duty of Loyalty 56 3.) Duty of Fairness: Parent-Subsidiary Relationships 63 4.) Duty of Good Faith 64 5.) Management Obligations