Welfare Economics

GATE Working Paper No. 1333

22 Pages Posted: 21 Nov 2013

See all articles by Antoinette Baujard

Antoinette Baujard

University of Lyon 2 - Groupe d'Analyse et de Théorie Economique (GATE)

Date Written: November 20, 2013


This paper presents the Paretian Watershed and the fundamental theorems of welfare economics. It distinguishes the British approach (à la Kaldor-Hicks) from the American approach (à la Bergson-Samuelson) to new welfare economics. It develops the more recent domains of happiness economics, the comparative approach by Amartya Sen, and the theory of fair allocation by Marc Fleurbaey.

Keywords: Welfare economics, Kaldor-Hicks, Social Welfare Function, Pareto, comparative approach, happiness economics, fair allocation

JEL Classification: B2, D6

Suggested Citation

Baujard, Antoinette, Welfare Economics (November 20, 2013). GATE Working Paper No. 1333. Available at SSRN: https://ssrn.com/abstract=2357412 or http://dx.doi.org/10.2139/ssrn.2357412

Antoinette Baujard (Contact Author)

University of Lyon 2 - Groupe d'Analyse et de Théorie Economique (GATE) ( email )

93 chemin des Mouilles
Ecully, 69130

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