1.It is recommended to do Exercise 8.12 prior to the present one. Here we look at the same population growth model N (t) = rN(t), N(0) = N0. The time….
as tools of real-world policy analysis, social welfare functions have been subjected to severe criticism. Discuss with extensive reference to the literature on theoritical welfare economics including Arrow’s famous Impossibility Theorem
Research topics
1. social welfare functions embody a normative conception of the relative importance of equity and efficiency. with aid of diagrams, illustrate and explain in this proposition.
2. as tools of real-world policy analysis, social welfare functions have been subjected to severe criticism. Discuss with extensive reference to the literature on theoritical welfare economics including Arrow’s famous Impossibility Theorem
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