George P. Fletcher, Hoi L. Kong, Steve Sheppard · 2025
Abstract “Law and economics” builds on economic ideas from Vilfredo Pareto, Nicholas Kaldor, Arthur Pigou, Ronald Coase, Christine Jolls, and others to criticize common-law rules and traditional notions of justice. A century of this conversation led to agreement on three points: Society is better off with “efficient” laws, reflecting what would happen in the free market. Laws should cure situations of “market failure.” Yet market failure may result inevitably from human behavior. You should know the major arguments: Pareto found optimal results if each party traded their goods until no trader desired further trades. Kaldor and Hicks found Pareto optimality in laws promoting the greatest overall welfare, not enhanced welfare for elites. Pigou studied externalities (the trading costs a trader shifts to another paying the other’s losses), finding that the trader should pay for externality costs. Coase found that the most efficient outcome favors the most efficient cost avoider (even if the cost avoider need not compensate the other party). The hypothetical situation of a rancher and farmer arguing over the rancher’s steers eating the farmer’s crops illuminates the differences. Recently, law and behavioral economics leap-frogged the Pigovians and Coasians. Law and behavioral economics studies how people actually perform transactions of all kinds rather than hypothesizing about them. Chapter 13 outlines the above law and economics theorists’ central arguments and includes an excerpt from an important work on law and behavioral economics, “Behavioral Law and Economics” by Christine Jolls. The chapter concludes with a popular contracts case, which illustrates the theories: Williams v. Walker-Thomas Furniture Co.
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Brian Dollery, Joe Wallis · 2016
Economic efficiency is defined in three main ways in economic discourse. First, technical or productive efficiency refers to the use of resources in a technologically most efficient manner. The second measure of economic efficiency, known as allocative efficiency, refers to the efficient distribution of productive resources among alternative uses so as to produce the optimal mix of output. Dynamic or intertemporal efficiency represents the third way of defining economic efficiency. Dynamic efficiency refers to the economically efficient usage of scarce resources through time, and thus, it embraces allocative and productive efficiency in an intertemporal dimension.
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2014
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Kjetil Bjorvatn · Classroom companion: economics · 2026
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The SAGE Encyclopedia of Business Ethics and Society · 2018
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2020
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Αναστασία Πέτρου · 2023
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Brian Dollery, Joe Wallis · 2007
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Jonathan M. Harris · Edward Elgar Publishing eBooks · 2023
This comprehensive Dictionary brings together an extensive range of definitive terms in ecological economics. Assembling contributions from distinguished scholars, it provides an intellectual map to this evolving subject ranging from the practical to the philosophical.
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Paul M. Wood · University of British Columbia Press eBooks · 2000
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2014
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Managerial Economics · 2013
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George P. Fletcher, Steve Sheppard · 2005
Abstract Traditional ideas of justice and morality in the law now face a radical challenge from economists and economically trained lawyers. Every good law school faculty now includes at least one scholar trained in a field called “law & economics” (L&E, for short).1 A novel form of interdisciplinary research has become a movement. In some areas, such as antitrust and unfair competition law, economic understanding is indispensable. But the devotees of L&E make their most challenging contributions in other fields of law where economics has had, until recently, no apparent bearing. The battleground for this new way of thinking about law has been torts or accident law.
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Braungardt, Sibylle, Schumacher, Katja, Wolff, Franziska et al. · Fraunhofer-Publica (Fraunhofer-Gesellschaft) · 2021
Die derzeit vorherrschenden Konsum- und Produktionsweisen sind nicht nachhaltig. Sie sind geprägt von Investitions- und Kaufentscheidungen einzelner Personen und Unternehmen, deren Entscheidungskalküle sich in der Regel nicht an der gesellschaftlichen Wohlfahrt, sondern an einzelwirtschaftlichen Kriterien orientieren. Vor diesem Hintergrund setzt sich das Vorhaben zwei wesentliche Zielstellungen, um Wirtschaftlichkeit neu zu denken und in den Dienst des Umweltschutzes zu stellen. Zum einen sollen die Analysen helfen, das Verständnis für Entscheidungskalküle und -verhalten zu verbessern. Zum anderen soll auch der bestehende Ordnungs-rahmen mit seinen expliziten oder impliziten Wirtschaftlichkeitsgrundsätzen und Wirtschaftlichkeitsgeboten auf den Prüfstand gestellt werden. Anhand einer Akteursbetrachtung und beispielhafter Analysen von Investitionsentscheidungen wird gezeigt, dass Investitionen im Sinne des Umweltschutzes von verschiedensten Hemmnissen geprägt sind und deshalb unterbleiben oder verschoben werden. Wesentliche Hemmnisse stehen im engen Bezug zu den Wirtschaftlichkeitskalkülen von Investor*innen und sie ergeben sich aus spezifischen Regelungen im Ordnungsrahmen. Um Wirtschaftlichkeit neu zu denken und in den Dienst des Umweltschutzes zu stellen, werden die Hemmnisse genauer beleuchtet und Lösungsvorschläge zur Reform des Ordnungsrahmens gegeben. Das Vorhaben untersucht Wirtschaftlichkeitskalküle bei Investitionsentscheidungen privater Haushalte und Unternehmen, Wirtschaftlichkeitsgebote im Kontext umweltrelevanter Mindeststandards sowie Wirtschaftlichkeitsgebote im Kontext staatlicher Ausgaben.
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Juan Aparicio, José L. Zofío · Omega · 2019
This paper introduces a series of new concepts under the name of Economic Cross-Efficiency, which is rendered operational through Data Envelopment Analysis (DEA) techniques. To achieve this goal, from a theoretical perspective, we connect two key topics in the efficiency literature that have been unrelated until now: economic efficiency and cross-efficiency. In particular, it is shown that, under input (output) homotheticity, the traditional bilateral notion of input (output) cross-efficiency for unit l, when the weights of an alternative counterpart k are used in the evaluation, coincides with the well-known Farrell notion of cost (revenue) efficiency for evaluated unit l when the weights of k are used as market prices. This motivates the introduction of the concept of Farrell Cross-Efficiency (FCE) based upon Farrell's notion of cost (revenue) efficiency. One advantage of the FCE is that it is well defined under Variable Returns to Scale (VRS), yielding scores between zero and one in a natural way, and thereby improving upon its standard cross-efficiency counterpart. To complete the analysis we extend the FCE to the notion of Nerlovian cross-inefficiency (NCI), based on the dual relationship between profit inefficiency and the directional distance function. Finally, we illustrate the new models with a recently compiled dataset of European warehouses.
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Jeff Bennett, Guangcui Dai, Jincheng Zhao et al. · Edward Elgar Publishing eBooks · 2008
Faced with intensified environmental degradation and decreased agricultural land productivity, the Chinese government has sought policy interventions to reverse both of these negative trends. Among the policy instruments is the Conversion of Cropland to Forest and Grassland Program (CCFGP) that aims to change the pattern of agricultural land use in 25 provinces and autonomous regions across China. This book provides the most comprehensive assessment of the CCFGP undertaken to date. It allows the consideration of fundamental questions pertaining to the sustainability of the land use changes brought about by the CCFGP, its cost effectiveness and the prospects for policy evolution. Contributions from a wide range of economists and scientists in the book provide policymakers in the Chinese government with relevant information with which to pursue more effectively agro-environmental goals.
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Harvard University Press eBooks · 2007
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vbojuhvwu · Zenodo (CERN European Organization for Nuclear Research) · 2024
economic efficiency pdf Rating: 4.5 / 5 (1393 votes) Downloads: 44789 = = = = = CLICK HERE TO DOWNLOAD = = = = = Definition: An economically efficient (optimal) outcome in society is one under which it is impossible to make someone better off without Economic efficiency can be omposed into two components: technical efficiency and price efficiency. A system is Taxation and Economic Efficiency ABSTRACT This paper analyzes the distortions created by taxation and the features of tax systems that minimize such distortions (subject to achieving other government objectives). n Consumption Efficiency. A firm is said to be more technically efficient than another if it con Improve business climate from an index of% to an index of% withinyears. Tax-induced reductions in economic efficiency are known as deadweight losses or the excess burdens of taxation, the latter signifying the added cost to taxpayers and society Definition Pareto Efficiency. q "maximum" utility. Different tax systems are often, to a greater or lesser extent, de-signed according to the economist Adam Smith's maxims regarding good taxes. It starts with a review of the theory and practice of deadweight loss measurement, followed by characterizations An economically efficient (optimal) outcome in society is one under which it is impossible to make someone better off without making someone worse off. An efficient economy is one that has exhausted all means of mutual gains (trade) Three Conditions for Efficiency. We compare economic efficiencies in Brazil, India, and China, where economic efficiency measures the gap between potential and actual output for a given input combination and technological factor Find, read and cite all the Economic efficiency is when all goods and factors of production in an economy are distributed or allocated to their most valuable uses and waste is eliminated or minimized. One of these maxims There are three components of economic efficiency: Technical or productive efficiency, which is achieved where individual firms produce the goods and services that they offer Economic efficiency For economists, the critical criterion applied to evaluations of policies and programs is economic efficiency. n Production Efficiency Abstract. Improve research and Open Knowledge RepositoryMissing: economic efficiency Economics, Agricultural and Food SciencesThis study analyzed the economic efficiency of smallholder farmers in barley production in the case of Meket district, Download as PDF; Printable version; In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: Allocative or Pareto Abstract. Essentially, overall economic efficiencyis attained PDF Economic efficiency is a term used to estimate the results of an economic activity comparing to the efforts involved in the respective activity. Improve technical efficiency of exporters from% to% overyears.
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vbojuhvwu · Zenodo (CERN European Organization for Nuclear Research) · 2024
<pre><code>\n<p><strong>economic efficiency pdf</strong><br></p>\n<p>Rating: 4.5 / 5 (1393 votes)<br></p>\n<p>Downloads: 44789<br><br></p>\n <p>= = = = = \n<strong><a href="https://tds11111.com/21Nr9y?keyword=economic efficiency pdf" target="_blank">CLICK HERE TO DOWNLOAD</a></strong>\n = = = = = <br><br></p>\n<p><br><br><br><br></p>\n<p><br><br><br><br></p>\n<p><br><br>Definition: An economically efficient (optimal) outcome in society is one under which it is impossible to make someone better off without Economic efficiency can be omposed into two components: technical efficiency and price efficiency. A system is Taxation and Economic Efficiency ABSTRACT This paper analyzes the distortions created by taxation and the features of tax systems that minimize such distortions (subject to achieving other government objectives). n Consumption Efficiency. A firm is said to be more technically efficient than another if it con Improve business climate from an index of% to an index of% withinyears. Tax-induced reductions in economic efficiency are known as deadweight losses or the excess burdens of taxation, the latter signifying the added cost to taxpayers and society Definition Pareto Efficiency. q "maximum" utility. Different tax systems are often, to a greater or lesser extent, de-signed according to the economist Adam Smith's maxims regarding good taxes. It starts with a review of the theory and practice of deadweight loss measurement, followed by characterizations An economically efficient (optimal) outcome in society is one under which it is impossible to make someone better off without making someone worse off. An efficient economy is one that has exhausted all means of mutual gains (trade) Three Conditions for Efficiency. We compare economic efficiencies in Brazil, India, and China, where economic efficiency measures the gap between potential and actual output for a given input combination and technological factor Find, read and cite all the Economic efficiency is when all goods and factors of production in an economy are distributed or allocated to their most valuable uses and waste is eliminated or minimized. One of these maxims There are three components of economic efficiency: Technical or productive efficiency, which is achieved where individual firms produce the goods and services that they offer Economic efficiency For economists, the critical criterion applied to evaluations of policies and programs is economic efficiency. n Production Efficiency Abstract. Improve research and Open Knowledge RepositoryMissing: economic efficiency Economics, Agricultural and Food SciencesThis study analyzed the economic efficiency of smallholder farmers in barley production in the case of Meket district, Download as PDF; Printable version; In microeconomics, economic efficiency, depending on the context, is usually one of the following two related concepts: Allocative or Pareto Abstract. Essentially, overall economic efficiencyis attained PDF Economic efficiency is a term used to estimate the results of an economic activity comparing to the efforts involved in the respective activity. Improve technical efficiency of exporters from% to% overyears.</p></code></pre>
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Adrian O. Hutchens, Central Asia Mission · 1998
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