Science topics: EconWelfare Economics
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Welfare Economics - Science topic

Welfare economics is a branch of economics that uses microeconomic techniques to evaluate economic well-being, especially relative to competitive general equilibrium within an economy as to economic efficiency and the resulting income distribution associated with it.
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Publications related to Welfare Economics (2,895)
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We present higher order necessary conditions for a model of welfare economics, where the preference mapping has a star-shape property. We assume that the preferences can be satiable and can be described by an arbitrary preference set, without the use of utility functions. These conditions are formulated in terms of higher-order directional derivati...
Article
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We examine the welfare economic performance of fast charging infrastructure investments in Denmark by comparing the monetary value of waiting-time savings from increasing capacity with the cost of investment. Waiting-time calculations are based on interactions between a generalised queuing system and a microscopic space–time model of charging deman...
Article
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This research paper aims to present the results of implementing a new multi-dimensional and cumulative tool that records child well-being, in the 2nd semester of the school year 2019-2020, which is the third round of an ongoing research. It also presents the results of the same year as a whole, in order to investigate the impact of the COVID-19 pan...
Article
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AimWhile sweetener taxes are prevalent worldwide to mitigate the excess consumption of sweeteners that are believed to contribute to obesity, in the United States, a sweetener tax is less effective if applied to aggregate sweetener consumption rather than only to consumption by obese consumers. The demand for sweeteners is not equal across all cons...
Article
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This paper proposes a theoretical model in which a formal upstream firm competes against informal input suppliers, which constitute an alternative, albeit lower-quality input source for formal downstream firms. The existence of an alternative source increases competition in the industry, which tends to be welfare-increasing. However, it may also di...
Article
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Motivation: The paradigms of the welfare economics are considered to be the basis of modern considerations on the measurement of quality of life. Today, there is no doubt that the quality of the environment, and especially the air quality that man breathes, is an essential element of the quality of life. Environmental problems, including air qualit...
Preprint
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The Covid-19 crisis and the policy responses to it have impacted many different areas of common concern including public health and the economy. This raises difficult questions about how to balance these concerns in making policy decisions. In this chapter, we review a number of tools that welfare economics offers for conceptualizing and studying s...
Article
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Research background: In the distributive analysis, the constant relative inequality aversion utility function is a standard tool for ethical judgements of income distributions. The sole parameter ? of this function expresses a society?s aversion to inequality. However, the profession has not committed to the range of ?. When assessing inequality an...
Preprint
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This paper starts with the observation from behavioral economics that preferences are endogenous, i.e., they are unstable, context-dependent, and open to processes of adaptation. It then asks whether welfare analysis-or normative economics more generally-is still possible in a world populated by people with endogenous preferences. In particular, it...
Preprint
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This essay uses concepts from Adam Smith’s The Theory of Moral Sentiments to develop ideas about choice and welfare. Those ideas are used to offer several challenges to common approaches to behavioral welfare economics and new paternalist policy making. Drawing on Smith’s dialectical concept of practical reason, which he develops in expositing idea...
Article
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The sheer size, growth, and complexity of cities worldwide are creating an ever-increasing burden of negative externalities on society and the environment. This systematic review aims to illuminate the broad range of negative urban development externalities and to analyze them in way that sharpens our ability to perceive, anticipate, and manage the...
Chapter
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This chapter builds on the welfare economic theory of transport pricing and its application to public transport supply. In this approach, optimal fares are set to reflect the marginal welfare effect of travelling. The unique engineering characteristics of operators and users costs in public transport make an increase in demand have a positive impac...
Chapter
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Amartya Sen’s remarkable endeavour to realize the normative capability of welfare economics goes beyond the impecunious resultants of the neoclassical welfare economy. The neoclassical welfare economy decoratively bracketed values to speculate about factual observations. This was due to the influence of logical positivists and their convictions abo...
Article
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Food price volatility is a major threat for welfare, economic prosperity and political stability. The monetary authority is generally viewed in the literature as the only institution responsible for price stability, however this approach overlooks the importance of food price stabilization policies using fiscal instruments. We develop and estimate...
Article
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Background Planning and decision-making for the elderly requires a special attention due to the beginning of aging process in Iran. By emphasizing the concept of active aging, determining the status of the elderly like their ability to continue work over time, to attain income and to participate in social and political life is significant. Active a...
Preprint
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Menger's distinction between "true" and "imaginary" goods and his attempt to relate the account of goods back to human needs invites a discussion of whether his work constitutes a fruitful basis for modern welfare economics. In this paper, we show that Menger's system contains indeed a form of welfare economics, but only in a limited sense. For Men...
Article
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I reconsider Bleichrodt, Pinto Prades and Wakker’s (BPW) 2001 paper about eliciting utility measures from stated preference surveys. That paper pioneers a method that is now widely used in behavioural economics to correct individuals’ ‘biases’ and to recover their ‘true preferences’. However, BPW propose this method as way of dealing with inconsist...
Article
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In this article, we examine the notion of well-being in light of the relationship between positive and normative economics. Having identified four interrelationships between possible theoretical developments within the two fields, we propose a framework for the analysis of normative economic theories. The starting point for these considerations wer...
Article
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Scientific research suggests that every act inhibited by man is an act of self interest. In evolutionary theory, natural selection process promotes psychological egoism. Yet many organisms are seen to exhibit altruistic behaviour. Altruism, a French term derived from the word ‘autrui’ was first coined by a French philosopher and writer Auguste Comt...
Preprint
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In the vision of law that dominates economics-influenced legal theory, … the problem to be solved is the absence of cooperation and the solution law provides is the imposition of sanctions. Richard McAdams, 2000 In Welfare Economics and the Theory of the State, Baumol (1952) argued that phenomena of the sort that came to be known as "market failure...
Preprint
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Like different aspects of Economics identified as Monetary Economics, Fiscal Economics, Development Economics and Welfare Economics, Spiritual Economics should be considered as a mainstream source of knowledge in Economic Sciences explaining economic, social and political behavior among countries. The brief case study focuses on ‘Namaz’ as a signif...
Cover Page
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In Economic theory, any particular social, economic, political, technological conjecture is mapped by establishing multiple pareto optimal equilibria. The recurrent circumstances are identified and understood from their relative proximity to such equilibrium. The economy in the long run should always be in equilibrium where defining parameters that...
Article
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Traditionally, economists and tax theorists justify taxation by means of externalities. In recent years, both scholars and policymakers have begun advocating ‘sin taxes’ on goods whose consumption causes ‘internalities’: unaccounted-for costs that a person imposes on herself, not on others. In this paper, we argue that sin taxes rest on a static mo...
Conference Paper
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SADC countries are running into debt more rapidly than they are building up savings. To mitigate against the fiscal drain that follows in servicing the debt, SADC governments reduce spending on welfare, economic and social goods. The fact that at least 5 of SADC countries' public debt is over 60% of their GDP creates an unstable financial condition...
Article
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This paper aims to present the results of implementing a new, multi-dimensional, and cumulative tool that records child well-being in the first semester of the school year 2019–2020, which is the second round of an ongoing research. The tool was applied in Attica through questionnaires addressing 30 schools and 3 support centers for children and fa...
Article
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El artículo tiene como objetivos identificar qué tipo de Estado configuran los principales enfoques económicos que fueron diseñados después del modelo de competencia perfecta, y hacer aproximaciones al tamaño de los Estados identificados. El método de análisis se compone de dos pasos: selección de las funciones que se requieren para el desarrollo d...
Preprint
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In this paper we examine welfare economic performance of charging infrastructure investments for Denmark by comparing the monetary value of waiting time savings of increasing capacity with the cost of investment. The model approach is based on a large-scale simulation framework for the entire Danish state road network. Calculation of waiting time i...
Book
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This work deals with the problematics of welfare economics, i.e. a branch of economics that tries to answer the question of how to maximize economic efficiency in the social dimension. The subject of the analysis is a proposal put forward by a representative of the Austrian school, Murray Newton Rothbard. In this theory, it is assumed that the opti...
Conference Paper
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კეთილდღეობის ეკონომიკის ფუნდამენტური პრინციპებია ჰორიზონტალური და ვერტიკალური სამართლიანობა. ჰორიზონტალური სამართ¬ლიანობა არის ერთნაირი ადამიანებისადმი ერთნაირი მოპ¬ყ-რობა. ვერტიკალური სამართლიანობა – სხვადასხვა ადამიანებისადმი განსხვავებული მოპ¬ყ¬¬¬რობა, რათა შემცირდეს მათი განსხვავებული სასტარტო პირობები. ეკონომიკის თეორიაში ჰორიზონტალური და ვერტ...
Preprint
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A natural notion of rationality/consistency for aggregating models is that, for all (possibly aggregated) models $A$ and $B$, if the output of model $A$ is $f(A)$ and if the output model $B$ is $f(B)$, then the output of the model obtained by aggregating $A$ and $B$ must be a weighted average of $f(A)$ and $f(B)$. Similarly, a natural notion of rat...
Article
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There is growing concern that decision-making informed by machine learning (ML) algorithms may unfairly discriminate based on personal demographic attributes, such as race and gender. Scholars have responded by introducing numerous mathematical definitions of fairness to test the algorithm, many of which are in conflict with one another. However, t...
Article
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Quality of life outcomes for family carers and patients may be measured in different ways within the same economic evaluation. We used the wellbeing valuation method to calculate “exchange rates” between care‐related outcomes (the Carer Experience Scale and CarerQoL‐7D) and health‐related (the EQ‐5D‐5L) outcomes. Data on quality of life outcomes we...
Article
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We investigate competitive equilibria in a special type of incomplete markets, referred to as a comonotone market, where agents can only trade such that their risk allocation is comonotonic. The comonotone market is motivated by the no-sabotage condition. For instance, in a standard insurance market, the allocation of risk among the insured, the in...
Preprint
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We consider the problem of generating rankings that are fair towards both users and item producers in recommender systems. We address both usual recommendation (e.g., of music or movies) and reciprocal recommendation (e.g., dating). Following concepts of distributive justice in welfare economics, our notion of fairness aims at increasing the utilit...
Article
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Being an indicator of economic welfare, economic growth reflects production output achieved by an economic community. Although economic growth in Uzbekistan fluctuated around 4–7% rate over the course of 2000–2020, the positive economic growth rate throughout the period is not reflected upon employment rate sufficiently. In spite of Uzbek governmen...
Article
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This paper reviews recent findings on the normative analysis of private and governmental countermeasures against infectious diseases, focusing on COVID-19. Based on a model that relates the economic activity to infectious disease epidemics, policies that maximize social welfare are considered. Lockdowns in many countries are measures that restrict...
Article
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In The Community of Advantage, Robert Sugden reconstructs and defends an account of the liberal tradition (LT) in normative economics in the light of the findings of Behavioural Economics (BE). In this paper, the LT in neo-classical welfare economics which has roots in J.S. Mill’s thought is contrasted with Sugden’s account. Cass Sunstein and Richa...
Article
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Most cost-benefit analyses assume that the estimates of costs and benefits are more or less accurate and unbiased. But what if, in reality, estimates are highly inaccurate and biased? Then the assumption that cost-benefit analysis is a rational way to improve resource allocation would be a fallacy. Based on the largest dataset of its kind, we test...
Article
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Depuis le début du XXème siècle, que le concept du « Bien-être » a connu sa nouvelle place en sciences économiques, l’économie du bien-être (welfare economics), consistait depuis lors, à évaluer les situations économiques, et principalement, les modalités de la répartition. Le débat qui était avant ne porte que sur la mesure de la valeur et de l’ut...
Article
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Objective: The re-entry of offenders to the community after their imprisonment is a sensitive and important stage and should always be considered by governmental and non-governmental organizations. The proper transition from prison to the community occurs when rehabilitation and social reintegration programs are developed and implemented based on t...
Article
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Social choice theory combines individual opinions, preferences, interests, or welfares to reach a collective decision or social welfare. Social choice theory focuses on how to translate individual preferences into group preferences. It combines public and welfare economics. It aggregates individual members' preferences and behaviours. This articl...
Article
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This study aims to explore welfare economic models that are viewed from the perspective of income inequality that still occurs in many countries today. Based on the theory of economic welfare, in this study, income inequality is influenced by the gap in the allocation/ownership of human and capital resources (L, K), especially in the difference of...
Article
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The SAARC policies aim to promote welfare economics, collective self-reliance mid the countries of South Asia, and to rush socio-cultural development in the region. The study is conducted to analyse how the countries are solid in terms of stock market. For this various statistical techniques like unit root test and Johansen co-integration test have...
Article
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Behavioural economics has taught us that human agents don't always display consistent, context-independent and stable preferences in their choice behaviour. Can we nevertheless do welfare economics in a way that lives up to the anti-paternalist ideal most economists subscribe to? I here discuss Sugden's powerful critique of most previous attempts a...
Article
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Invasive alien species (IAS) are identified as a major threat to biodiversity and ecosystem services. While early detection and control programs to avoid establishments of new alien species can be very cost-effective, control costs for well-established species can be enormous. Many of these well-established species constitute severe or high ecologi...
Article
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Background: Trade facilitation is important for the South African Customs Union (SACU) countries because the expansion of international trade is a priority to enhance their economic growth. Unfortunately, the high trade compliance costs facing importers and exporters operating in SACU are in conflict with this objective. Aim: This article aims to...
Preprint
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A cross-country comparison of the middle-class with income polarization is commonplace in welfare economics. Using the housing cycle of 2001--2007 and national panels for Australia, the United States, Germany, and Switzerland, this study shows that polarization is sensitive to housing cycles, affecting the ranking of countries. However, adding impu...
Article
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Competing and coexisting policies (CACP) may arise from the incompatibility of incentives, standards and regulatory models between a local state and a federal government, or between two government jurisdictions across which supply networks operate. Traditional studies of supply chain dynamics typically explore the impact of policy regimens as stand...
Book
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The book subjects to critical scrutiny the notion of voluntariness, as employed by Austro-libertarians. It tackles the relation of voluntariness to property rights, (moralized) freedom as well as identifies its key role in Austrian welfare economics. The spirit of the book is through-and-through polemical: I take issue not only with well-entrenched...
Book
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This book presents the history of economic thought as it relates to today’s most pressing problems, and it emphasizes the critical connection that exists between what may seem cold, unrealistic mathematical economic models, and the quality of everyday life of any citizen of the planet earth. It shows how contemporary developments in neoclassical th...
Article
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In 2008, the behavioral economist Richard Thaler and the legal scholar Cass Sunstein published a book in which they advocated a novel approach to public policy based on the notion of a “nudge.” Roughly speaking, a nudge is an intervention in the decisional context that steers people's decisions by acting on their cognitive biases. The notion of a n...
Article
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The Islamic economic tools zakah and waqf are among the several economic tools set by Islam to battle poverty and to enhance standard of living. Factually, Zakah aids in circulation and distribution of funds among the poor and less privilege in society. However, waqf provides revenue and services infrastructure, social welfare needs, and it improve...
Article
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The prevention of bovine respiratory disease is important, as it may lead to impaired welfare, economic losses, and considerable antimicrobial use, which can be associated with antimicrobial resistance. The aim of this study was to describe the prevalence of respiratory viruses and to identify risk factors for their occurrence. A convenience sample...
Conference Paper
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We are living in an information-saturated era. Almost infinite amount of information is available at our finger-tips from in-numerous media sources. Equally available are misinformation and disinformation. The line between information and disinformation are getting blurred day by day. Differentiating between a valid source and a crooked source is b...
Article
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2020 will be remembered as the year of the Covid-19 pandemic, caused by SARS-CoV-2: a virus that suddenly spread worldwide affecting the health and the life of millions of people of all ages and putting a strain on welfare, economic, scientific and politic structures of all the Nations that have tried to respond to the multiple needs of their popul...
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This paper presents the results of various benefit–cost ratio (BCR) analyses of back-end nuclear fuel cycle alternatives. Korea is currently considering two alternatives for the disposal of spent nuclear fuel: direct disposal and pyroprocessing. Each of these two alternatives has advantages and disadvantages. To select one alternative, various eval...
Presentation
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Power has only one duty - to secure the social welfare of the people - Benjamin Disraeli
Article
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If Rawls’s A Theory of Justice has achieved fame among economists, this is due to his Difference Principle, which says that inequalities of resources should be to the benefit of the less fortunate, or more operationally, that allocations of resources should be ranked by the maximin criterion. We extend the Rawlsian maximin in two ways: first, by re...
Article
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The ex ante Pareto principle has an intuitive pull, and it has been a principle of central importance since Harsanyi’s defence of utilitarianism (to be found in e.g. Harsanyi, Rational behaviour and bargaining equilibrium in games and social situations. CUP, Cambridge, 1977). The principle has been used to criticize and refine a range of positions...
Article
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Health economists are currently debating, with some suspicion, the relative merits of cost-benefit analysis (CBA), grounded in theoretical welfare economics, and the proliferation of social return on investment (SROI), a pragmatic approach of developing a triple-bottom line (social, environmental and financial), but not grounded in welfare theory....
Preprint
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Welfare Economics (WE) is an important scientific subject because can be a goal of the socioeconomic policy of modern states. Although the relation between business successes and social development is not always obvious but can be similar to the process of seeking a balance between challenges and opportunities. An increasing number of enterprises u...
Article
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Disinfectants for veterinary and livestock use, plus skin antiseptics, are critical elements for the control of infectious agents, including zoonotic and antimicrobial‐resistant micro‐organisms, in managed animal species. Such agents impact animal welfare, economic performance and human health. Testing of disinfectants is needed for safety, efficac...
Article
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Although scholars have long known that entrepreneurship involves the interaction of countless individuals beyond the entrepreneur, traditional performance metrics are limited to capturing the economic value that is created for shareholders. Multiple scholars have suggested that it should be possible to develop a more complete assessment that is abl...
Article
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Background The detrimental impact of dominant corporations active in health-harming commodity industries is well recognised. However, to date, existing analyses of the ways in which corporations influence health have paid limited attention to corporate market power. Accordingly, the public health implications of concentrated market structures, the...
Article
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There are presently two approaches to the study of well-being. Philosophers typically focus on normative theorizing, attempting to identify the things that are ultimately good for a person, while largely ignoring empirical research. The idea is that empirical attention cannot be directed to the right place without a rigorous theory. Meanwhile, soci...
Book
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We exhibit behaviors: working, texting, kissing, and buying M&Ms. Most of us are mostly aware of our actions and perceive them as our actions, actions that we chose. Do you wonder why you do what you do rather than something else—wonder how much of it you chose — wonder whether what you do is best for you? I thread these questions around how econom...
Preprint
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In this paper, we study multi-agent systems with decentralized resource allocations. Agents have local demand and resource supply, and are interconnected through a network designed to support sharing of the local resource; and the network has no external resource supply. It is known from classical welfare economics theory that by pricing the flow o...
Preprint
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Urban resilience to Corona Virus and its globalization has become a major concern for cities these days. The spread of the Corona Virus (Covid-19) pandemic began in early 2020 and gradually spread throughout the world. This pandemic affected all aspects of the individual and social life of the inhabitants of the planet. Our country also has not bee...
Chapter
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The strength of Sen’s concept of poverty lies in the fact that it goes beyond the traditional concepts of poverty and is able to grasp the complexity of poverty. At the same time, the strength of Sen’s concept of poverty is also its weakness. It is very abstract indeed. Income does not tell us much about poverty according to the capability deprivat...
Article
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The regulation of track access charges within the European Union is based on the economic principles of first and second best pricing. In order to obtain an allocative efficiency it is crucial to determine the marginal costs of operating the train services – the so-called direct costs. Even though the Implementing Regulation (EU) 2015/909 specifies...
Technical Report
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Qual o salário médio em Portugal? Como evoluiu, ao longo dos últimos vinte anos? Que impacto tiveram os aumentos do salário mínimo e da escolaridade na sua evolução? Estará o país a acompanhar a tendência dos seus parceiros europeus? O salário médio é um dos principais indicadores do bem-estar económico de uma sociedade, sendo que o impacto das re...
Chapter
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Policy makers often want to receive structured information regarding the impacts of transport policy options before they take a decision. To provide such information governments often choose to use standard appraisal methods being Cost-Benefit Analysis (CBA), Multi-Criteria Analysis (MCA) or Environmental Impact Assessment (EIA). Before we introduc...
Article
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Robert Sugden abandons certain central tenets of traditional welfare economics and recommends a contractarian alternative. He rejects ‘Libertarian Paternalism’ (LP) and related ‘paternalistic’ proposals. The seeds of ‘paternalism’ inspired by the findings of behavioural economics can be found in informed preference views associated with J.S. Mill a...
Conference Paper
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US-Renewable Energy is the last in a series of WTO disputes involving subsidies schemes with local content requirements. Local content requirements (LCRs) are highly discriminatory and trade distortive instruments and therefore all cases concerning green energy have been found to violate WTO law. However, recent jurisprudence has developed a differ...
Article
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The main objective was to analyze the scientific evidence on the origin, evolution and research on Quality of Life. A systematic review of the literature was carried out according to the recommendations of the PRISMA statement. The search was carried out in databases such as PubMed, SciELO, Redalyc, SCOPUS, Springer, Taylor and Francis, Web of Scie...
Conference Paper
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Throughout history, cities have been the main centers of learning, culture and innovation. However, today’s cities are facing with an ongoing rapid urbanization that causes many problems exacerbated by the increasing population density and demands of urban environments. This article focuses on the concept of sustainable urban development (SUD), whi...
Article
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The deployment of machine learning models is expected to bring several benefits. Nevertheless, as a result of the complexity of the ecosystem in which models are generally trained and deployed, this technology also raises concerns regarding its (1) interpretability, (2) fairness, (3) safety, and (4) privacy. These issues can have substantial econom...
Article
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Respecting minority opinions is vital in solving social problems. However, minority opinions are often ignored in general majority rules. To build consensus on pluralistic values and make social choices that consider minority opinions, we propose aggregation methods that give weighting to the minority's positionality on cardinal cumulative voting....
Article
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There is widespread concern in developing countries with the expansion of formal insurance products to help manage significant risks. These concerns arise primarily from a lack of understanding of insurance products, general failures of financial literacy and the need to use relatively exotic products in order to keep costs down for poor households...
Article
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The paper discusses Hans Albert’s ambivalent relation to economics, his rejection of its neoclassical version and his approval of its classical tradition. Against this background it examines Albert’s critique of welfare economics, contrasting his arguments with the outlook of constitutional political economy.
Article
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Perhaps the most important element of James Buchanan’s contribution to constitutional economics is his differentiation between pre- and post-constitutional levels of decision-making. At first glance, a tension may appear between those two levels of analysis. In one, the rules by which we live are up for debate, allowing us to exercise our creative...
Article
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The American film Poverty, Inc. alerted citizens to the fact that some “not-for-profit” organizations impair public benefit and seek profit. To avoid to contributing to such hypocritical organizations, this paper considers the possible use of SROI. SROI is an accounting concept used to evaluate NFPs. There is a problem called overhead aversion amon...
Technical Report
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Em continuidade à apresentação dos boletins do Observatório do Mercado de Trabalho do Nordeste e COVID-19, o presente relatório se direciona aos trabalhadores negros, e explora como a desigualdade racial e econômica, acentuada no período pandêmico, mantem os trabalhadores negros com poucas alternativas para manutenção do emprego e renda, o que reve...