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    The Use of Distributional Weights in Benefit-Cost Analysis: Insights from Welfare Economics1 (2016)
    Oxford University Press
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    Publication Date: 2016-09-17
    Description: This article examines how distributional weights can be introduced into benefit–cost analysis (BCA) by using insights from recent developments in welfare economics, in particular the theory of fair social allocation and happiness studies. We argue that it is easier than commonly believed to design weights that embody the Paretian and equity properties of a well-crafted social welfare function. However, the informational requirements for such weights suggest that it may be helpful to examine the potential for simpler weights (e.g., based on simple objective indexes of well-being) to provide reasonable approximations of ideal weights for use in BCA.
    Keywords: D61 - Allocative Efficiency ; Cost-Benefit Analysis, D71 - Social Choice ; Clubs ; Committees ; Associations
    Print ISSN: 1750-6816
    Electronic ISSN: 1750-6824
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Political Science , Economics
    Published by Oxford University Press
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    The Early History of Environmental Economics (2015)
    Oxford University Press
    Details
    Publication Date: 2015-01-29
    Description: This article traces the history of economists’ treatment of environmental problems prior to the establishment of environmental economics as a separate field in the 1960s. I examine the economics literature from the late eighteenth century onward, searching for an awareness among early economists of both the effects of economic activity on the natural and social environment and the feedback from the environment to the economy. I argue that the way in which economic theory developed made it increasingly relevant for the study of environmental issues and the design of appropriate economic policies. ( JEL : B00, Q30, Q50)
    Keywords: B00 - General, Q30 - General, Q50 - General
    Print ISSN: 1750-6816
    Electronic ISSN: 1750-6824
    Topics: Energy, Environment Protection, Nuclear Power Engineering , Political Science , Economics
    Published by Oxford University Press
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