Pareto and Pigou on Ophelimity, Utility and Welfare: Implications for Public Finance
AbstractIn view of the distinct and seminal contributions of Pareto and Pigou to the economics of welfare, Pigou’s enduring influence in the field of public finance and Pareto’s hostility to developments in that field of study, the lack of a comparative study of their contributions is unfortunate. This study contrasts the place of ophelimity and utility and in these authors’ approaches to welfare studies. Attention is also given to the place of individuals’ consciousness of consumption by others in the treatment of economic welfare and total welfare. It is found that the substantive differences in the welfare studies of these two scholars have less to do with Pigou’s direct and Pareto’s less direct materialistic focus of welfare economics or the differing ordinal/cardinal dimensions to their analysis, than with Pareto’s and Pigou’s diverse views: on the theoretical representation of the economic phenomenon when individual behaviour is influenced by the consumption by others; and on the character of science. These last two differences are important because they have direct consequences for the scope of economic and social welfare theories and the choice between
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 InfoPaper provided by The University of Western Australia, Department of Economics in its series Economics Discussion / Working Papers with number 09-13.
Length: 32 pages
Date of creation: 2009
Date of revision:
Contact details of provider:
Postal: 35 Stirling Highway, Crawley, W.A. 6009
Phone: (08) 9380 2918
Fax: (08) 9380 1016
Web page: http://www.business.uwa.edu.au/school/disciplines/economics
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Michel De Vroey, 2003. "Perfect information a la Walras versus perfect information a la Marshall," Journal of Economic Methodology, Taylor and Francis Journals, vol. 10(4), pages 465-492.
- Franco Donzelli, 2006. "Marshall vs. Walras on Equilibrium and Disequilibrium," UNIMI - Research Papers in Economics, Business, and Statistics unimi-1037, Universitá degli Studi di Milano.
- Drakopoulos, Stavros A., 2010. "The history of the mainstream rejection of interdependent preferences," MPRA Paper 23980, University Library of Munich, Germany.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Brendan Doran).
If references are entirely missing, you can add them using this form.