On the Meaning of Economic Efficiency in Policy Analysis
AbstractThere are crucial differences in the normative foundations of alternative economic criteria used to assess the "efficiency" of policy proposals. Differences between Pareto and potential Pareto measures are emphasized in this comparison of "efficiency" standards. Technical distinctions between these two criteria are examined and illustrated. It is argued that potential Pareto criteria have greater disciplinary acceptance than their normative foundations merit and, further, that the Pareto measure has suffered undue criticism from association with its potential Pareto namesake.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Land Economics.
Volume (Year): 71 (1995)
Issue (Month): 1 ()
Contact details of provider:
Web page: http://le.uwpress.org/
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Centner, Terence J. & Griffin, Ronald C., 1998. "Externalities From Roaming Livestock: Explaining The Demise Of The Open Range," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, Western Agricultural Economics Association, vol. 23(01), July.
- Arild Vatn & Daniel Bromley, 1997. "Externalities — A market model failure," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 9(2), pages 135-151, March.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().
If references are entirely missing, you can add them using this form.