Efficiency and Equity in Welfare Economics
Increasing efficiency in generating national income and improving equity in its distribution among economic agents is at the forefront of priorities of most modern economies. This book presents a model which aims to maximize a symmetrical welfare function
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PierCarlo Nicola
Efficiency and Equity in Welfare Economics
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Prof. PierCarlo Nicola Universit`a di Milano Dipto. Matematica Milano Italy
ISSN 0075-8442 ISBN 978-3-642-30070-7 ISBN 978-3-642-30071-4 (eBook) DOI 10.1007/978-3-642-30071-4 Springer Heidelberg New York Dordrecht London Library of Congress Control Number: 2012945174 c Springer-Verlag Berlin Heidelberg 2013 This work is subject to copyright. All rights are reserved by the Publisher, whether the whole or part of the material is concerned, specifically the rights of translation, reprinting, reuse of illustrations, recitation, broadcasting, reproduction on microfilms or in any other physical way, and transmission or information storage and retrieval, electronic adaptation, computer software, or by similar or dissimilar methodology now known or hereafter developed. Exempted from this legal reservation are brief excerpts in connection with reviews or scholarly analysis or material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Duplication of this publication or parts thereof is permitted only under the provisions of the Copyright Law of the Publisher’s location, in its current version, and permission for use must always be obtained from Springer. Permissions for use may be obtained through RightsLink at the Copyright Clearance Center. Violations are liable to prosecution under the respective Copyright Law. The use of general descriptive names, registered names, trademarks, service marks, etc. in this publication does not imply, even in the absence of a specific statement, that such names are exempt from the relevant protective laws and regulations and therefore free for general use. While the advice and information in this book are believed to be true and accurate at the date of publication, neither the authors nor the editors nor the publisher can accept any legal responsibility for any errors or omissions that may be made. The publisher makes no warranty, express or implied, with respect to the material contained herein. Printed on acid-free paper Springer is part of Springer Science+Business Media (www.springer.com)
Preface
The main stimulus for presenting this short monograph is linked to one of my first conceptual interest which can be traced back to the beginning of my studies of political economy and economic policy. A topic that caught my attention considerably was welfare economics; yet during my career, I did not have the opportunity to investigate the subject with the exception of Pareto efficiency and Walrasian equilibrium. Now, the occasion to fill the lacuna in my scientific interest has finally arrived with the present work. This monograph links welfare functions to the study of efficiency in income distribution and to inequality and poverty, all very important applied topics in real economies. The topics are considered in a theoretical framework; no attempt is made to apply the mod
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