Micro-Economic Analysis

kaldor-hicks , scitovsky explained the compensation rule to reach pareto level, Bergson and Samuelson explained by taking value judgements into thr account any society can be reached to maximum socail welfare, Arrow threw light onsocial choice

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NTA-UGC-NET & SET Exams

English

NTA-UGC NET: Social Welfare Function

Micro Economics

Economics

NET Exams

theory of second best given by lipsey and lancaster, explained that when the society fails to be on pareto optimal point they can go for second best alternative

Theory of Second Best

Kaldor hicks compensatiation rule

Double Criteria

Bergson-Samuelson Social Welfare Function

Arrow's Impossibility Theory

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Theory of Second Best

Mudunuru Vijay Chand

NTA-UGC NET: Social Welfare Function

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