Questions tagged [welfare]
The welfare tag has no usage guidance.
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If I gain, then someone else loses. Correct?
On a very small scale, it's certainly true that if I gain, somebody else might lose. If I take away my brother's chocolate, then he will lose it, and will most probably not get anything comparable.
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Is the standard of living of poor & middle class people higher than in the past?
I really hope this is not opinion based. I am just looking for numbers, links, straightforward proof if possible that the lifetime we are in now, this decade, most of us are living better than in the ...
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The second welfare theorem without monotonicity
Are there non monotonic preferences that are strictly convex and continues but the second welfare theorem does not hold for them?
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Why does optimal allocation call for unlimited distribution of information?
In his seminal paper Arrow (1962) states that information should be distributed without limit if an optimal allocation is to be achieved.
Quote (p. 614-615):
The cost of transmitting a given body ...
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