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Welfare economics

Author

Listed:
  • Antoinette Baujard

    () (Université de Lyon, Lyon, F-69007, France ; CNRS, GATE Lyon St Etienne,Université Jean Monnet, Saint-Etienne, F-42000, France)

Abstract

This paper presents the Paretian Watershed and the fundamental theorems of welfare economics. It distinguishes the British approach (à la Kaldor-Hicks) from the American approach (à la Bergson-Samuelson) to new welfare economics. It develops the more recent domains of happiness economics, the comparative approach by Amartya Sen, and the theory of fair allocation by Marc Fleurbaey.

Suggested Citation

  • Antoinette Baujard, 2013. "Welfare economics," Working Papers 1333, Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon.
  • Handle: RePEc:gat:wpaper:1333
    as

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    File URL: ftp://ftp.gate.cnrs.fr/RePEc/2013/1333.pdf
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    Other versions of this item:

    • Antoinette Baujard, 2016. "Welfare economics," Chapters,in: Handbook on the History of Economic Analysis Volume III, chapter 42, pages 611-624 Edward Elgar Publishing.

    References listed on IDEAS

    as
    1. Fleurbaey,Marc & Maniquet,François, 2011. "A Theory of Fairness and Social Welfare," Cambridge Books, Cambridge University Press, number 9780521715348.
    2. Feldman, Allan M & Kirman, Alan, 1974. "Fairness and Envy," American Economic Review, American Economic Association, vol. 64(6), pages 995-1005, December.
    3. Ingrid Robeyns, 2005. "The Capability Approach: a theoretical survey," Journal of Human Development and Capabilities, Taylor & Francis Journals, vol. 6(1), pages 93-117.
    4. Marc Fleurbaey & Philippe Mongin, 2005. "The news of the death of welfare economics is greatly exaggerated," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 25(2), pages 381-418, December.
    5. Marc Fleurbaey & François Maniquet, 2005. "Fair social orderings when agents have unequal production skills," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 24(1), pages 93-127, September.
    6. Fleurbaey, Marc, 2012. "Fairness, Responsibility, and Welfare," OUP Catalogue, Oxford University Press, number 9780199653591.
    7. Elisha A. Pazner & David Schmeidler, 1974. "A Difficulty in the Concept of Fairness," Review of Economic Studies, Oxford University Press, vol. 41(3), pages 441-443.
    8. Sen, Amartya K, 1979. "Personal Utilities and Public Judgements: Or What's Wrong with Welfare Economics?," Economic Journal, Royal Economic Society, vol. 89(355), pages 537-558, September.
    9. Antoinette Baujard, 2007. "Commensurable freedoms in the capability approach," Economics Working Paper Archive (University of Rennes 1 & University of Caen) 200703, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.
    10. Chipman, John S & Moore, James C, 1978. "The New Welfare Economics, 1939-1974," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 19(3), pages 547-584, October.
    11. Antoinette Baujard, 2011. "L'économie du bien-être est morte. Vive l'économie du bien-être !," Post-Print halshs-00609257, HAL.
    12. T. de Scitovszky, 1941. "A Note on Welfare Propositions in Economics," Review of Economic Studies, Oxford University Press, vol. 9(1), pages 77-88.
    13. Ingrid Robeyns, 2005. "Selecting Capabilities for Quality of Life Measurement," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 74(1), pages 191-215, October.
    14. Amartya Sen, 1999. "The Possibility of Social Choice," American Economic Review, American Economic Association, vol. 89(3), pages 349-378, June.
    15. Kenneth J. Arrow, 1950. "A Difficulty in the Concept of Social Welfare," Journal of Political Economy, University of Chicago Press, vol. 58, pages 328-328.
    16. Sen, Amartya, 1979. "The Welfare Basis of Real Income Comparisons: A Survey," Journal of Economic Literature, American Economic Association, vol. 17(1), pages 1-45, March.
    17. Philippe Mongin, 2002. "Is there progress in normative economics?," Chapters,in: Is There Progress in Economics?, chapter 10 Edward Elgar Publishing.
    18. Cooter, Robert & Rappoport, Peter, 1984. "Were the Ordinalists Wrong about Welfare Economics?," Journal of Economic Literature, American Economic Association, vol. 22(2), pages 507-530, June.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Antoinette Baujard, 2016. "Utilitarianism and anti-utilitarianism," Chapters,in: Handbook on the History of Economic Analysis Volume III, chapter 40, pages 576-588 Edward Elgar Publishing.

    More about this item

    Keywords

    Welfare economics; Kaldor-Hicks; SocialWelfare Function; Pareto; comparative approach; happiness economics; fair allocation;

    JEL classification:

    • B2 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925
    • D6 - Microeconomics - - Welfare Economics

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