Social welfare function, Microeconomics

2 i) Explain what are the key assumptions by the welfarist approach.

ii) Define and discuss the properties of a Generalized Utilitarian social welfare function and represent it graphically.

iii) Represent graphically an utilitarian and a Rawlsian maximin social welfare function.

Using an Edgeworth box define and graphically represent the contract curve when all individuals have:

i) Convex indifference curves.

ii) Substitutes linear indifference curves.

iii) Complements kinked indifference curves.

Using an Edgeworth box represent:

i) A Pareto indifferent allocation.

ii) A weak Pareto improvement.

iii) A strong Pareto improvement.

iv) A Pareto optimal allocation.

Posted Date: 2/23/2013 2:02:15 AM | Location : United States







Related Discussions:- Social welfare function, Assignment Help, Ask Question on Social welfare function, Get Answer, Expert's Help, Social welfare function Discussions

Write discussion on Social welfare function
Your posts are moderated
Related Questions
How to solve economics assignment help?

How might a “perfect” macro equilibrium be affected by (a) a stock market crash; (b) the death of a president; (c) a recession in Canada; (d) a spike in oil prices?

Problems of population census: High Cost of Census: Censuses are supposed to be conducted at a 10 year interval. The high cost of conducting census has made it impossibl

Consider an economy with three states. The following set of stocks is traded:   x 1 =(2,2,0)    x 2 =(1,0,3)  x 3 =(0,2,4). The t=0 prices of these stocks are given as follow

1.  The marginal benefit (demand) curve for pollution for an industry is P=100-4*Q, where Q is emissions in tons.  The current emissions tax (price) for pollution is $40/ton.  Regu

Analyze the various ways in which property rights encourage economic development and make at least one recommendation for improving current laws. Explain your rationale.

Is Indian companies running a risk by not giving attention to cost cutting

Comparison of sameulson revealed preference theory with the Hicksian revealed preference theoru