IDEAS home Printed from https://ideas.repec.org/p/ude/wpaper/1611.html
   My bibliography  Save this paper

Changes in social welfare in an intertemporal economy

Author

Listed:
  • Elvio Accinelli

    (Facultad de Economía, Universidad Autónoma de san Luis Potosí. Departamento de Economía, Facultad de Ciencias Sociales, Universidad de la República)

  • Leobardo Plata

    (Facultad de Economía, Universidad Autónoma de san Luis Potosí.)

  • Joss Sánchez

    (Facultad de Economía, Universidad Autónoma de san Luis Potosí.)

Abstract

General Equilibrium Theory (GE) scrutinizes the ability of markets to achieve efficient allocation of resources. The main purpose of this work is, in the framework to the GE to analyze, the possibility of design a mechanism enabling agents to make independent decisions compatible with social welfare. More precisely, we address the problem of the possibility of decentralization mechanism to sustain efficiency and social welfare at the same time. Specifically, introducing a social utility function, we argue on the possibility of improving the social welfare transferring resources between periods of the economy. This mechanism introduces a Rawlsian solution improving the welfare of the individuals worst positioned.

Suggested Citation

  • Elvio Accinelli & Leobardo Plata & Joss Sánchez, 2011. "Changes in social welfare in an intertemporal economy," Documentos de Trabajo (working papers) 1611, Department of Economics - dECON.
    • Handle: RePEc:ude:wpaper:1611
    as

    Download full text from publisher

    File URL: https://hdl.handle.net/20.500.12008/2206
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. T. Bergstrom, 1971. "On the Existence and Optimality of Competitive Equilibrium for a Slave Economy," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 38(1), pages 23-36.
    2. Willmann, Gerald, 2004. "Pareto gains from trade: a dynamic counterexample," Economics Letters, Elsevier, vol. 83(2), pages 199-204, May.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. P.J. Hammond, 2007. "History: Sunk Cost, or Widespread Externality?," Rivista Internazionale di Scienze Sociali, Vita e Pensiero, Pubblicazioni dell'Universita' Cattolica del Sacro Cuore, vol. 115(2), pages 161-185.
    2. Gabriel Felbermayr & Wilhelm Kohler, 2014. "Can International Migration Ever Be Made a Pareto Improvement?," World Scientific Book Chapters, in: European Economic Integration, WTO Membership, Immigration and Offshoring, chapter 11, pages 373-393, World Scientific Publishing Co. Pte. Ltd..
    3. Jonathan Conning, 2004. "The Causes of Slavery or Serfdom and the Roads to Agrarian Capitalism: Domar's Hypothesis Revisited," Economics Working Paper Archive at Hunter College 401, Hunter College Department of Economics.
    4. Sonnabend, Hendrik & Stadtmann, Georg, 2018. "Good intentions and unintended evil? Adverse effects of criminalizing clients in paid sex markets with voluntary and involuntary prostitution," Discussion Papers 400, European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics.
    5. Paul Oslington, 2012. "General Equilibrium: Theory and Evidence," The Economic Record, The Economic Society of Australia, vol. 88(282), pages 446-448, September.
    6. Daron Acemoglu & Alexander Wolitzky, 2011. "The Economics of Labor Coercion," Econometrica, Econometric Society, vol. 79(2), pages 555-600, March.
    7. Blanchard, Emily & Willmann, Gerald, 2022. "Unequal gains, prolonged pain: A model of protectionist overshooting and escalation," Journal of International Economics, Elsevier, vol. 135(C).
    8. Saito, Tetsuya, 2005. "Managerial Strategies of the Cotton South," MPRA Paper 181, University Library of Munich, Germany, revised Aug 2006.
    9. W D A Bryant, 2009. "General Equilibrium:Theory and Evidence," World Scientific Books, World Scientific Publishing Co. Pte. Ltd., number 6875, August.
    10. Emily Blanchard & Gerald Willmann, 2007. "Political Stasis or Protectionist Rut? Policy Mechanisms for Trade Reform in a Democracy," CESifo Working Paper Series 2070, CESifo.
    11. Lagerlöf, Nils-Petter, 2016. "Born free," Journal of Development Economics, Elsevier, vol. 121(C), pages 1-10.
    12. Sonnabend, Hendrik, 2015. "Good Intentions and Unintended Evil? Clients’ Punishment in the Market for Sex Services with Voluntary and Involuntary Providers," EconStor Preprints 110682, ZBW - Leibniz Information Centre for Economics.
    13. Michael Suk-Young Chwe, 1990. "Violence in Incentives: Pain in a Principal-Agent Model," Discussion Papers 871, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
    14. Lagerlöf, Nils-Petter, 2003. "Slavery and other property rights," MPRA Paper 372, University Library of Munich, Germany, revised 30 Aug 2006.
    15. Blanchard, Emily & Willmann, Gerald, 2011. "Escaping a protectionist rut: Policy mechanisms for trade reform in a democracy," Journal of International Economics, Elsevier, vol. 85(1), pages 72-85, September.

    More about this item

    Keywords

    Welfare; efficiency; decentralization;
    All these keywords.

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • D7 - Microeconomics - - Analysis of Collective Decision-Making

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ude:wpaper:1611. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Andrea Doneschi or the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/derauuy.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.