Efficiency and Equity in Welfare Economics (Lecture Notes in Economics and Mathematical Systems) by PierCarlo Nicola
English | ISBN: 3642300707 | 2013 | 180 pages | PDF | 0,9 MB
Increasing efficiency in generating national income and improving equity in its distribution among economic agents is at the forefront of priorities of most modern economies. This book presents a model which aims to maximize a symmetrical welfare function under certain constraints which consider both efficiency and equity, i.e. taxes and subsidies, implemented by a public authority.