Welfare Economics of Public Policy. A Practical Approach to Project and Policy Evaluation (en Inglés) - Richard E, Just;Darrell L. Hueth;Andrew Schmitz

Building on willingness-to-pay (WTP) measures as the foundation for applied welfare economics, the authors develop measures for firms and households where households are viewed as both consumers and owner/sellers of resources. Possibilities are presented for (1) approximating WTP with consumer surplus, (2) measuring WTP exactly subject to errors in existing econometric work, and (3) using duality theory to specify econometric equations consistent with theory.

Later chapters cover specific areas of welfare measurement under imperfect competition, uncertainty, incomplete information, externalities, and dynamic considerations. Applications are considered explicitly for policy issues related to information, international trade, the environment, agriculture, and other natural resource issues.

The Welfare Economics of Public Policy is ideal for graduate and undergraduate courses in applied welfare economics, public policy, agricultural policy, and environmental economics and provides an essential reference for practitioners of applied welfare economics.