Econ 4960: Topics in Economics: WelfareEconomics

Spring Semester 2002

John S. Chipman

READING LIST

LEGEND:

A Articles *On reserve in Wilson LibraryB Books †Textbook ‡Supplementary textC Collective works ¶Articles in Packet

A. ARTICLES

Andel, Norbert. “Some Notes on Equating Private and Social Cost: Comment,” Southern EconomicJournal, 33 (July 1966), 112.

Aivazian, Varouj A., and Jeffrey L. Callen. “The Coase Theorem and the Empty Core,” Journalof Law and Economics, 24 (April 1981), 175—181.

Arnott, Richard J. “Moral Hazard and Competitive Insurance Markets,” in Dionne (C-1992, 325—358).

Arnott, Richard, and Joseph E. Stiglitz. “The Welfare Economics of Moral Hazard,” in Louberge(C-1990, 91—121).

Arrow, Kenneth J. “A Difficulty in the Concept of Social Welfare,” Journal of Political Economy,58 (August 1950), 328—346. [Arrow & Scitovsky (*C-1969, 147—168); Arrow (C-1983a, 1—29).]

. “An Extension of the Basic Theorems of Classical Welfare Economics,” in Proceedingsof the Second Berkeley Symposium on Mathematical Statistics and Probability, Berkeley: Uni-versity of California Press, 1951, pp. 507—532. [Newman (C-1968, 365—390); Arrow (C-1983b,13—45).]

. “Economic Welfare and the Allocation of Resources for Invention,” in Nelson (C-1962,609—625). [Arrow (*C-1970, 144—163); Arrow (C-1985a, 104—119).]

. “Uncertainty and the Economics of Medical Care,” American Economic Review, 53 (De-cember 1963), 941—973. [Arrow (*C-1970, 177—219); Arrow (C-1985b, 15—50).]

¶ . “Criteria for Social Investment,” Water Resources Research, 1 (No. 1, 1965), 1—8. (a)[Arrow (C-1985a, 200—214).]

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. “Insurance, Risk and Resource Allocation,” in Arrow (B-1965, 45—56). (b) [Arrow (*C-1970, 134—143); Arrow (C-1984b, 77—86).]

. “Discounting and Public Investment Criteria,” in Kneese & Smith (*C-1966, 13—32).[Arrow (C-1985a, 215—235).]

. “The Economics of Moral Hazard: Further Comment,” American Economic Review, 58(June 1968), 537—539. [Arrow (*C-1970, 220—222); Arrow (C-1984b, 103—105).]

. “The Social Discount Rate,” in Somers & Wood (*C-1969, 56—75). [Arrow (C-1985a,382—400.]

. “Political and Economic Evaluation of Social Effects and Externalities,” in Margolis (*C-1970), 1—23. (a) Reprinted in Intriligator (C-1971, 3—25). Abridged version: “The Organizationof Economic Activity,” in Haveman & Margolis (*C-1970, 59—73). (b)

. “Optimal Insurance and Generalized Deductables,” Skandinavian Actuarial Journal, 1(1974), 1—42.

. “The Rate of Discount for Long-Term Public Investment,” in Ashley, Rudman & Whipple(*C-1976, 113—140). (a)

. “Welfare Analysis of Changes in Health Coinsurance Rates,” in Rosett (*C-1976, 2—23).[Arrow (C-1985b, 234—254).] (b)

. “The Property Rights Doctrine and Demand Revelation under Incomplete Information,”in Boskin (*C-1979, 23—39). [Arrow (C-1984b, 216—232).]

. “The Rate of Discount on Public Investments with Imperfect Capital Markets,” in Lind(*C-1982, 115—136).

¶Arrow, Kenneth J., and Anthony C. Fisher. “Environmental Preservation, Uncertainty, and Ir-reversibility,” Quarterly Journal of Economics, 88 (May 1974), 312—319. [Arrow (C-1985,165—173).]

Arrow, Kenneth J., and Robert C. Lind. “Uncertainty and the Evaluation of Public InvestmentDecisions,” American Economic Review, 60 (June 1970), 364—378. [Arrow (*C-1970, 239—266);Arrow (C-1985a, 418—439); Layard (*C-1972, 335—369).]

. “Uncertainty and the Evaluation of Public Investment Decisions: Reply,” AmericanEconomic Review, 62 (June 1972), 171—172. [Arrow (C-1985a, 440—442.]

Auten, Gerald E. “The Problem of Social Cost: Fifteen Years Later: Discussion,” in: Lin (*C-1976),37—40.

Barone, Enrico. “The Ministry of Production in the Collectivist State,” in Hayek (C-1935, 245—290). [Newman (C-1968, 319—364).] [Translated from the Italian, “Il ministro della produzionenello stato colletivista,” Giornale degli Economisti [2], 37 (August, October 1908), 267—293.]

Barro, Robert, “Are Government Bonds Net Wealth?” Journal of Political Economy, 82 (Novem-ber-December 1974), 1095—1117.

Barzel, Yoram. “Optimal Timing of Innovations,” Review of Economics and Statistics, 50 (August1968), 248—355.

Bator, Francis. “The Simple Analytics of Welfare Maximization,” American Economic Review, 47(March 1957), 22—59.

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. “The Anatomy of Market Failure,” Quarterly Journal of Economics, 72 (August 1958),351—379.

Baumol, William J. “On the Social Rate of Discount,” American Economic Review, 58 (September1968), 788—802.

. “On the Discount Rate for Public Projects,” in *Haveman & Margolis (C-1970, 273—290).

. “On Taxation and the Control of Externalities,” American Economic Review, 62 (June1972), 307—322.

Baumol, William J., and David F. Bradford. “Optimal Departures from Marginal Cost Pricing,”American Economic Review, 60 (June 1970), 265—283.

. “Detrimental Externalities and Non-Convexity of the Production Set,” Economica, N.S.,39 (May 1972), 160—176.

Bergson, Abram. “A Reformulation of Certain Aspects of Welfare Economics,” Quarterly Journalof Economics, 52 (February 1938), 310—334. [Arrow & Scitovsky (*C-1969, 7—25); Bergson(*C-1966, 3—26).]

. “On Monopoly Welfare Losses,” American Economic Review, 63 (December 1973), 853—870.

. “On Monopoly Welfare Losses: Reply,” American Economic Review, 65 (December 1975),1024—1031.

Block, Walter. “Coase and Demsetz on Private Property Rights,” Journal of Libertarian Studies,1 (Spring 1977), 111—116.

Boskin, Michael J., and Michael D. Hurd. “Indexing Social Security Benefits: A Separate PriceIndex for the Elderly?” Public Finance Quarterly, 13 (October 1985), 436—449.

¶Bowen, Howard R. “The Interpretation of Voting in the Allocation of Economic Resources,” Quar-terly Journal of Economics, 58 (November 1943), 27—48. [Arrow & Scitovsky (*C-1969, 115—132).]

Bramhall, David F., and Edwin S. Mills. “A Note on the Asymmetry between Fees and Payments,”Water Resources Research, 2 (No. 3, 1966), 615—616.

¶Bromley, Daniel W. “Externalities, Extortion, and Efficiency: Comment,” American EconomicReview, 68 (September 1978), 730—735.

Buchanan, James M. “Politics, Policy, and the Pigovian Margins,” Economica, N.S., 29 (February1962), 17—28.

. “Confessions of a Burden Monger,” Journal of Political Economy, 72 (October 1964),486—488.

. “An Economic Theory of Clubs,” Economica, N.S., 32 (February 1965), 1—14.

. “Joint Supply, Externality and Optimality,” Economica, N.S., 33 (November 1966), 404—415.

. “External Economies, Corrective Taxes, and Market Structure”, American EconomicReview, 59 (March 1969), 174—177.

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. “The Institutional Structure of Externality,” Public Choice, 14 (Spring 1973), 69—82.

. “The Coase Theorem and the Theory of the State,” Natural Resources Journal , 13(October 1973), 579—594.

. “Good Economics–Bad Law,” Virginia Law Review, 60 (1974), 483—492.

. “Barro on the Ricardian Equivalence Theorem,” Journal of Political Economy, 84 (April1976), 337—342.

. “Market Failure and Political Failure”, Cato Journal 8 (Spring-Summer 1988), 1—13.

Buchanan, James M., and Wm. Craig Stubblebine. “Externality,” Economica, N.S., 29 (November1962), 371—384. [Arrow & Scitovsky (*C-1969, 199—212).]

. “Pareto-Optimality and Gains-from-Trade: A Comment”, Economica, N.S., 39 (May1972), 203—204.

Byerlee, D. R. “Option Demand and Consumer Surplus,” Quarterly Journal of Economics, 85(August 1971), 523—527.

Calabresi, Guido. “The Decision for Accidents: An Approach to Nonfault Allocation of Costs,”Harvard Law Review, 78 (1965), 713—730.

¶ . “Transaction Costs, Resource Allocation and Liability Rules–A Comment,” Journal ofLaw and Economics, 11 (April 1968), 67—73.

Calabresi, Guido and A. Douglas Melamed, “Property Rules, Liability Rules and Inalienability:One View of the Cathedral,” Harvard Law Review, 85 (April 1972), 1089—1128.

Carson, Richard. “On Monopoly Welfare Losses: Comment,” American Economic Review, 65(December 1975), 1008—1114.

Chipman, John S. “External Economies of Scale and Competitive Equilibrium,” Quarterly Journalof Economics, 84 (August 1970), 347—385. [Buchanan & Yoon (C-1994, 121—166).]

. “Samuelson and Welfare Economics,” in Feiwel (C-1982, 152—184).

. “The Theory and Measurement of Income Distribution,” Basmann & Rhodes (C-1985,135—165).

. “Compensation Principle,” in Eatwell et al. (C-1987, Vol. 1, 524—531).

. “Hicksian Welfare Economics,” in Hagemann & Hamouda (*C-1994, 96—146).

Chipman, John S., and James C. Moore. “The Scope of Consumer’s Surplus Arguments,” in Tanget al. (C-1976, 69—123). (a)

. “Why an Increase in GNP Need Not Imply an Improvement in Potential Welfare,” Kyklos,29 (Fasc. 3, 1976), 391—418. (b)

¶ . “The New Welfare Economics, 1939—1974,” International Economic Review, 19 (October1978), 547—584.

. “Compensating Variation, Consumer’s Surplus, and Welfare,” American Economic Re-view, 70 (December 1980), 933—949.

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Cicchetti, Charles J., and Myrick Freeman III. “Option Demand and Consumer Surplus: FurtherComment.” Quarterly Journal of Economics, 85 (August 1971), 528—539.

¶Clark, Colin W. and Gordon R. Munro. “Renewable Resources as Natural Capital: The Fishery.”In Jansson et al. (1994), 343—361.

Coase, Ronald H. “The Nature of the Firm.” Economica, N.S., 4 (November 1937), 386—405. InCoase (*C-1988), 33—55.

. “The Problem of Social Cost.” Journal of Law and Economics, 3 (October 1960), 1—44.In Coase (*C-1988), 95—156.

. “The Coase Theorem and the Empty Core: A Comment,” Journal of Law and Economics,24 (April 1981), 183—187.

. “Notes on the Problem of Social Cost,” in Coase (*C-1988, 157—185).

Coelho, Philip R. P. “Externalities, Separability, and Resource Allocation: Comment,” AmericanEconomic Review, 65 (September 1975), 721—723.

Cooter, Robert D. “How the Law Circumvents Starrett’s Nonconvexity,” Journal of EconomicTheory, 22 (June 1980), 499—504.

Cooter, Robert D. “The Cost of Coase,” Journal of Legal Studies, 11 (January 1982), 1—33.

Cowling, Keith, and Dennis C. Mueller. “The Social Costs of Monopoly Power,” Economic Journal,88 (December 1978), 727—748. [Buchanan, Tollison, & Tullock (*C-1980, 125—152).]

Crew, Michael. “Coinsurance and the Welfare Economics of Medical Care,” American EconomicReview, 59 (December 1969), 906—908.

Crew, M. A., and C. K. Rowley. “On Allocative Efficiency, X-Efficiency and the Measurement ofWelfare Loss,” Economica, N.S., 38 (May 1971), 199—203.

Daly, George. “The Coase Theorem: Assumptions, Applications and Ambiguities”, EconomicInquiry, 12 (June 1974), 203—213.

Daly, George and J. Fred Giertz. “Externalities, Extortion, and Efficiency,” American EconomicReview, 65 (December 1975), 997—1001.

. “Externalities, Extortion, and Efficiency: Reply,” American Economic Review, 68 (Sep-tember 1978), 736—738.

Dasgupta, Partha, and Joseph Stiglitz, “Benefit-Cost Analysis and Trade Policies,” Journal ofPolitical Economy, 82 (January-February 1974), 1—33.

Davis, Otto A. and Andrew B. Whinston. “Externalities, Welfare, and the Theory of Games,”Journal of Political Economy, 70 (June 1962), 241—262.

. “Some Notes on Equating Private and Social Cost,” Southern Economic Journal, 32(October 1965), 113—126.

. “On Externalities, Information and the Government-Assisted Invisible Hand,” Economica,N.S., 33 (August 1966), 303—318.

. “On the Distinction between Public and Private Goods,” American Economic Review,Papers and Proceedings, 57 (May 1967), 360—373.

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Debreu, Gerard. “Valuation Equilibrium and Pareto Optimum,” Proceedings of the National Acad-emy of Sciences, 40 (1954), 588—592. [Arrow & Scitovsky (*C-1969, 39—45).]

Demsetz, Harold. “The Exchange and Enforcement of Property Rights,” Journal of Law andEconomics, 7 (October 1964), 11—26.

. “Some Aspects of Property Rights,” Journal of Law and Economics, 9 (October 1966),61—70.

. “Toward a Theory of Property Rights,” American Economic Review, Papers and Pro-ceedings, 57 (May 1967), 347—359.

¶ . “Information and Efficiency: Another Viewpoint,” Journal of Law and Economics, 12(April 1969), 1—22.

. “On Extortion: A Reply,” American Economic Review, 68 (June 1978), 417—418.

Diamond, Peter. “The Opportunity Costs of Public Investment: Comment,” Quarterly Journal ofEconomics, 82 (November 1968), 682—688.

Diamond, Peter, and James Mirrles. “Optimal Taxation and Public Production,” Parts I and II,American Economic Review, 61 (March, June 1971), 8—27, 261—278.

¶Dick, Daniel T. “The Voluntary Approach to Externality Problems: A Survey of the Critics,”Journal of Environmental Economics and Management, 2 (1976), 185—195.

Diewert, W. E. “The Economic Theory of Index Numbers: A Survey,” in Deaton (*C-1981, 163—208).

. “The Theory of the Cost-of-Living Index and the Measurement of Welfare Change,” inDiewert & Montmarquette (C-1983, 163—233), and in Diewert (*C-1990, 79—147).

¶Dolbear, F. Trenery, Jr. “On the Theory of Optimum Externality,” American Economic Review,57 (March 1967), 90—103.

. “On the Theory of Optimum Externality: Reply,” American Economic Review, 58 (June1968), 529—531.

. “Externalities as Commodities: Comment,” American Economic Review, 64 (June 1974),451—453.

Dupuit, Jules. “On the Measurement of the Utility of Public Works,” in International EconomicPapers (C-1952, 83—110). [Arrow & Scitovsky (*C-1969), 255—283.] [Translated from theFrench, “De la mesure de l’utilite des travaux publics,” Annales des Ponts et Chaussees,Memoires et documents relatifs a l’art des constructions et au service de l’ingenieur [2] 8, (2e

semestre, 1844), 332—375, and Planche 75: Figs. 1—4.]

Eckstein, Otto. “Investment Criteria for Economic Development and the Theory of IntertemporalWelfare Economics,” Quarterly Journal of Economics, 71 (February 1957), 56—85.

. “A Survey of the Theory of Public Expenditure Criteria,” in Buchanan (*C-1961, 439—494).

Feldstein, Martin S. “The Social Time Preference Discount Rate in Cost-Benefit Analysis,” Eco-nomic Journal, 74 (June 1964), 360—379. [Layard (*C-1972, 246—269).]

. “The Derivation of Social Time Preference Rates,” Kyklos, 8 (Fasc. 2, 1965), 277—286.

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Fisher, Anthony C. “Environmental Externalities and the Arrow-Lind Public Investment Theorem,”American Economic Review, 63 (September 1973), 722—725.

Foley, Duncan K. “Resource Allocation and the Public Sector,” Yale Economic Essays, 7 (No. 1,1967), 45—98.

Frech, H. E., III. “Pricing of Pollution: The Coase Theorem in the Long Run,” The Bell Journalof Economics and Management Science, 4 (Spring 1973), 316—319.

. “The Extended Coase Theorem and Long-Run Equilibrium: The Nonequivalence ofLiability Rules and Property Rights,” Economic Inquiry, 17 (April 1979), 254—268.

Freeman, A. Myrick, III. “Bribes and Charges: Some Comments,” Water Resources Research, 3(No. 1, 1967), 287—288.

. “Distribution of Environmental Quality,” in Kneese & Bower (C-1971, 243—278).

Frisch, Ragnar. “The Dupuit Taxation Theorem,” Econometrica, 7 (April 1939), 145—150, 156—157.

Furubotn, Eirik G., and Svetozar Pejovich. “Property Rights and Economic Theory: A Survey ofRecent Literature,” Journal of Economic Literature, 10 (December 1972), 1137—1162.

¶Gifford, Adam, Jr. “Externalities and the Coase Theorem: A Graphical Analysis,” QuarterlyReview of Economics and Business, 14 (Winter 1974), 7—21.

¶Gifford, Adam, Jr. and Courtenay C. Stone. “Externalities, Liability and the Coase Theorem: AMathematical Analysis,” Western Economic Journal, 11 (September 1973), 260—269.

. “Externalities, Separability, and Resource Allocation: Comment,” American EconomicReview, 65 (September 1975), 724—727.

Goetz, Charles J. and James M. Buchanan. “External Diseconomies in Competitive Supply,”American Economic Review, 61 (December 1971), 883—890.

Goldberg, Victor. “Towards an Expanded Economic Theory of Contract,” Journal of EconomicIssues, 10 (March 1976), 45—61.

. “Pigou on Complex Contracts and Welfare Economics,” Research in Law and Economics,3 (February 1981), 39—51.

Gollier, Christian. “Economic Theory of Risk Exchanges: A Review,” in Dionne (C-1992), 3—23.

Gollier, Christian, and Harris Schlesinger. “Arrow’s Theorem on the Optimality of Deductables:A Stochastic Dominance Approach,” Economic Theory, 7 (No. 2, 1966), 359—363.

¶Gordon, H. Scott. “The Economic Theory of a Common Property Resource,” Journal of PoliticalEconomy, 62 (April 1954), 124—142.

Gould, J. R. “Total Conditions in the Analysis of External Effects,” Economic Journal, 87 (Sep-tember 1977), 558—564.

Greenley, Douglas A., Richard G. Walsh, and Robert A. Young. “Option Value: Empirical Evidencefrom a Case Study of Recreation and Water Quality,” Quarterly Journal of Economics, 96(November 1981), 657—673.

Greenwood, Peter, Charles Ingene, and James Horsfield. “Externalities, Separability, and ResourceAllocation: Comment,” American Economic Review, 65 (September 1975), 728—729.

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Griliches, Zvi. “Research Costs and Social Returns: Hybrid Corn and Related Innovations,” Jour-nal of Political Economy, 66 (October 1958), 419—431.

Harberger, Arnold C. “Monopoly and Resource Allocation,” American Economic Review, Papersand Proceedings, 44 (May 1954), 77—87. [Harberger (*C-1974, 91—101).]

. “Using the Resources at Hand More Effectively,” American Economic Review, Papersand Proceedings, 49 (May 1959), 134—146. [Harberger (*C-1974, 108—119).]

. “The Measurement of Waste,” American Economic Review, Papers and Proceedings, 54(May 1964), 58—76. [Harberger (*C-1974, 69—85).]

. “Techniques of Project Appraisal,” in Millikan (C-1967), 131—149. [Harberger (C-1972,1—21).]

. “Professor Arrow on the Social Discount Rate,” in Somers & Wood (*C-1969, 76—88).[Extracts in Harberger (C-1972, 123—131); Layard (*C-1972, 303—310).]

. “Three Basic Postulates for Applied Welfare Economics: An Interpretive Essay,” Journalof Economic Literature, 9 (September 1971), 785—797. [Harberger (*C-1974, 5—20).]

Harsanyi, John C. “Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons ofUtility,” Journal of Political Economy, 63 (August 1955), 309—321. [Arrow & Scitovsky (*C-1969, 46—60).]

Hause, John C. “Comment on ‘How to Make a Burden of the Public Debt’,” Journal of PoliticalEconomy, 72 (October 1964), 489-490.

Hayek, Friedrich A. von. “Utility Analysis and Interest,” Economic Journal, 46 (March 1936),44—60.

Heal, Geoffrey M. “The Optimal Use of Exhaustible Resources.” In Kneese and Sweeney (*C-1993),855—880.

Hicks, J[ohn] R. “The Foundations of Welfare Economics,” Economic Journal, 49 (December 1939),696—713. [Hicks (*C-1981, 60—77).]

. “The Valuation of the Social Income,” Economica, N.S., 7 (May 1940), 105—124. [Hicks(*C-1981, 78—96).]

. “The Rehabilitation of Consumers’ Surplus,” Review of Economic Studies, 8 (February1941), 108—116. [Hicks (*C-1981, 100—113); Arrow & Scitovsky (*C-1969, 325—335).]

. “Consumers’ Surplus and Index-Numbers’, Review of Economic Studies, 9 (Summer 1942),126—137.

. “The Four Consumer’s Surpluses,” Review of Economic Studies, 11 (Winter 1943), 31—41. [Revised version, merged with Hicks (A-1942) and Hicks (A-1946), in Hicks (*C-1981,114—132).]

. “The Generalized Theory of Consumer’s Surplus,” Review of Economic Studies, 13 No.2, 1946), 68—74.

. “The Measurement of Real Income,” Oxford Economic Papers, N.S., 10 (June 1958),125—162. [Hicks (*C-1981, 142—183).]

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. “The Scope and Status of Welfare Economics,” Oxford Economic Papers, N.S., 27 (No-vember 1975), 307—326. [Hicks (*C-1981, 218—239).]

Hirshleifer, Jack. “On the Theory of the Optimal Investment Decision,” Journal of Political Econ-omy, 66 (August 1958), 329—352.

. “Efficient Allocation of Capital in an Uncertain World,” American Economic Review,Papers and Proceedings, 54 (May 1964), 77—85.

. “Investment Decisions Under Uncertainty: Choice-Theoretic Approaches,” QuarterlyJournal of Economics, 79 (November 1965), 509—536.

. “Investment Decisions Under Uncertainty: Applications of the State-Preference Ap-proach,” Quarterly Journal of Economics, 80 (May 1966), 252—277.

Hirshleifer, Jack, and David L. Shapiro. ““The Treatment of Risk and Uncertainty,” in Haveman& Margolis (*C-1970, 291—313.)

Holtermann, Sally E. “Externalities and Public Goods,” Economica, N.S. (February 1972), 39,78—87.

¶Hotelling, Harold. “The Economics of Exhaustible Resources,” Journal of Political Economy, 39(April 1931), 137—175.

. “The General Welfare in Relation to Problems of Taxation and of Railway and UtilityRates,” Econometrica, 6 (July 1938), 242—269. [Arrow & Scitovsky (*C-1969, 284—308).]

¶Hurwicz, Leonid. “What is the Coase Theorem?” Japan and the World Economy, 7 (No. 1, 1995),49—74.

James, Estelle. “On the Social Rate of Discount: Comment,” American Economic Review, 59(December 1969), 912—916.

¶Johansen, Leif. “Some Notes on the Lindahl Theory of Determination of Public Expenditures,”International Economic Review, 4 (September 1963), 346—358.

Kaldor, Nicholas. “Welfare Propositions in Economics and Interpersonal Comparisons of Utility,”Economic Journal, 49 (September 1939), 549—552. [Arrow & Scitovsky (*C-1969, 387—389).]

Kamien, Morton I., Nancy L. Schwarz, and F. Trenery Dolbear, Jr. “Asymmetry between Bribesand Charges,” Water Resources Research, 2 (No. 1, 1966), 147—157.

Kamerschen, D. R. “An Estimation of the Welfare Losses from Monopoly in the American Econ-omy,” Western Economic Journal, 4 (Summer 1966), 221—236.

Kemp, Murray C. “The Gain from International Trade,” Economic Journal, 72 (December 1962),803—819.

Kenen, Peter B. “On the Geometry of Welfare Economics,” Quarterly Journal of Economics, 71(August 1957), 426—447.

Kneese, Allen V., and Karl-Goran Maler. “Bribes and Charges in Pollution Control: An Aspect ofthe Coase Controversy,” Natural Resources Journal, 13 (October 1973), 705—716.

Knight, Frank H. “Some Fallacies in the Interpretation of Social Cost,” Quarterly Journal of Eco-nomics, 38 (August 1924), 582—606. [Arrow & Scitovsky (*C-1969, 213—227).]

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Krueger, Anne O. “The Political Economy of the Rent-Seeking Society,” American Economic Re-view, 64 (June 1974), 291—303. [Buchanan, Tollison, & Tullock (*C-1980, 51—70).]

¶Krutilla, John V. “Conservation Reconsidered,” American Economic Review, 57 (September 1967),777—786.

Lange, Oskar. “On the Economic Theory of Socialism,” Review of Economic Studies, 4 (October1936, February 1937), 53—71, 123—142. [Lippincott (C-1938, 57—143).]

. “The Foundations of Welfare Economics,” Econometrica, 10 (July-October 1942), 215—228. [Arrow & Scitovsky (*C-1969, 26—38).]

Layard, Richard. “Introduction,” in Layard (*C-1972, 9—70).

Leff, Arthur Allen. “Economic Analysis of Law: Some Realism about Nominalism,” Virginia LawReview, 60 (1974), 451—482.

Leibenstein, Harvey. “Allocative Efficiency vs. ‘X-Efficiency’,” American Economic Review, 56(June 1966), 392—415.

Lerner, Abba P. “Consumer Surplus and Micro-Macro,” Journal of Political Economy, 71 (February1963), 76—81.

. “On Optimal Taxes With an Untaxable Sector,” American Economic Review, 60 (June1970), 284—294.

Lind, Robert C. “The Social Rate of Discount and the Optimal Rate of Investment: FurtherComment,” Quarterly Journal of Economics, 78 (May 1964), 336—345.

Lindahl, Erik. “Just Taxation–A Positive Solution,” in Musgrave & Peacock (*C-1958, 168—176).[Translated from the German, Die Gerechtigheit der Besteuerung (Lund: Gleerup, 1919), Part1, Chapter 4, “Positive Losung,,” pp. 85—98.]

. “Some Controversial Questions in the Theory of Taxation,” in Musgrave & Peacock (*C-1958, 214—232). [Translated from the German, “Eine strittige Fragen der Steuertheorie,” inHans Mayer (editor), Die Wirtschaftstheorie der Gegenwart, Vol. IV, Vienna, 1928, pp. 282—304.]

Lindsay, Cotton M. “Option Demand and Consumer Surplus,” Quarterly Journal of Economics,83 (May 1969), 344—346.

Lipsey, Richard G., and Kelvin Lancaster. “The General Theory of Second Best,” Review ofEconomic Studies, 24 (No. 1, 1956), 11—32.

Long, Millard F. “Collective-Consumption Services of Individual-Consumption Goods: Comment,”Quarterly Journal of Economics, 81 (May 1967), 351—352.

Lorenz, M. O. “Methods of Measuring the Concentration of Wealth,” Quarterly Publications of theAmerican Statistical Association, N.S., 9 (June 1905), 209—219.

Marchand, James R., and Keith P. Russell. “Externalities, Liability, Separability, and ResourceAllocation,” American Economic Review, 63 (September 1973), 611—620.

. “Externalities, Liability, Separability, and Resource Allocation: Reply,” American Eco-nomic Review, 65 (September 1975), 730—732.

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McKean, Roland N. “The Use of Shadow Prices,” in Chase (C-1968, 33—65). [Layard (*C-1972,119—139).]

. “Products Liability: Implications of some Changing Property Rights,” Quarterly Journalof Economics, 84 (November 1970), 611—626.

McKean, Roland N., and John H. Moore. “Uncertainty and the Evaluation of Public InvestmentDecisions: Comment,” American Economic Review, 62 (March 1972), 165—167.

Marglin, Stephen A. “Objectives of Water-Resource Development: A General Statement,” in Maass(C-1962, 17—87). (a)

. “Economic Factors Affecting System Design,” in Maass (C-1962, 159—225). (b)

. “The Social Rate of Discount and the Optimal Rate of Investment,” Quarterly Journalof Economics, 77 (February 1963), 95—111. (a)

. “The Opportunity Costs of Public Investment,” Quarterly Journal of Economics, 77 (May1963), 274—289. (b)

Meade, James Edward. “External Economies and Diseconomies in a Competitive Situation,” Eco-nomic Journal, 62 (March 1952), 54—67. [Arrow & Scitovsky (*C-1969, 183—198).]

Meyer, Robert A., Jr. (1971), “Externalities as Commodities,” American Economic Review, 61(September 1971), 736—740.

. “Externalities as Commodities: Reply,” American Economic Review, 64 (June 1974),460—461.

Mirrles, James A. “An Exploration in the Theory of Optimum Income Taxation,” Review of Eco-nomic Studies, 38 (April 1971), 175—208.

. “Notes on Welfare Economics, Information and Uncertainty.” In Balch, McFadden, andWu (C-1974), 243—258.

* . “Information and Incentives: The Economics of Carrots and Sticks,” Economic Journal,107 (September 1997), 1311—1329.

Mishan, E. J. “How to Make a Burden of the Public Debt,” Journal of Political Economy, 71(December 1963), 529—542.

. “The Burden of the Public Debt: A Rejoinder,” Journal of Political Economy, 72 (October1964), 491—495.

. “Reflections on Recent Developments in the Concept of External Effects,” CanadianJournal of Economics and Political Science, 31 (February 1965), 3—34.

. “Pareto Optimality and the Law,” Oxford Economic Papers, N.S. (November 1967), 19,255—287.

. “The Relationship between Joint Products, Collective Goods, and External Effects,”Journal of Political Economy, 77 (May-June 1969), 329—348.

¶ . “The Postwar Literature on Externalities: An Interpretive Essay,” Journal of EconomicLiterature, 9 (March 1971), 1—28.

. “Evaluation of Life and Limb: A Theoretical Approach,” Journal of Political Economy,79 (July-August 1971), 687—705. [Layard (*C-1972, 219—242).]

11

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14

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15

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Buchanan, James M. Public Principles of Public Debt. Homewood, Ill.: Richard D. Irwin, Ltd.,1958.

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Buchanan, James M., and Gordon Tullock. The Calculus of Consent. Logical Foundations ofConstitutional Democracy. Ann Arbor, Mich.: University of Michigan Press, 1962.

Champernowne, D. G., and F. A. Cowell. Economic Inequality and Income Distribution. Cam-bridge: Cambridge University Press, 1998.

Clark, Colin W. Mathematical Bioeconomics: The Optimal Management of Renewable Resources.New York: John Wiley & Sons, 1976. [Wilson: 333.7 C547] xi, 352 pp. 2nd edition, 1990. xiii,386 pp. [St. Paul Central, Forestry: QH705 .C4 1990]

Clark, Colin W. Bioeconomic Modelling and Fisheries Management. New York: John Wiley &Sons, 1985. [ENT/FISH/WILD: SH331.5 .M48 C57 1985]

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Dasgupta, Ajit K., and D. W. Pearce. Cost-Benefit Analysis: Theory and Practice. London:Macmillan, 1972.

‡Dasgupta, Partha S., and Geoffrey M. Heal. Economic Theory and Exhaustible Resources. Welwyn,U.K.: James Nisbet & Co. Ltd, 1979.

Dasgupta, Partha, Amartya K. Sen, and Stephen A. Marglin. Guidelines for Project Evaluation.New York: United Nations Industrial Development Organization (UNIDO), 1972.

Eckstein, Otto. Water Resource Development. Cambridge, Mass.: Harvard University Press, 1958.

Eggertsson, Thrainn. Economic Behavior and Institutions. Cambridge: Cambridge UniversityPress, 1990.

†Feldman, Allan. Welfare Economics and Social Choice Theory. Boston: Martinus Nijhoff Publish-ers, 1980.

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Hirshleifer, Jack. Investment, Interest, and Capital. Englewood Cliffs, N.J.: Prentice-Hall, 1970.

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*Johansen, Leif. Public Economics. Amsterdam: North-Holland Publishing Company, 1965, andChicago: Rand McNally & Company, 1968. [Chapter 6, pp. 123—153.]

Just, Richard E., Darrell L. Hueth, and Andrew Schmitz. Applied Welfare Economics and PublicPolicy. Engelwood Cliffs, N.J.: Prentice-Hall, Inc., 1982.

Kneese, Allen V. Water Pollution: Economic Aspects and Research Needs, Washington, D.C.:Resources for the Future, Inc., 1962.

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*Kneese, Allen V., and Blair T. Bower. Managing Water Quality: Economics, Technology, Institu-tions. Baltimore: Published for Resources for the Future by the Johns Hopkins Press, 1968.[Wilson: 333.91 K734ea] [Walter: 333.91 K734]

*Koopmans, Tjalling C. Three Essays on the State of Economic Science. New York: McGraw-Hill,1957.

Krutilla, John V., and Otto Eckstein. Multiple Purpose River Development. Baltimore: The JohnsHopkins Press, 1958.

Lerner, Abba P. The Economics of Control. New York: Macmillan, 1944.

*Laffont, Jean-Jacques. Fundamentals of Public Economics. Cambridge, Mass.: The MIT Press,1989.

*Layard, P. R[ichard] G., and Walters, A. A. Microeconomic Theory. New York: McGraw-Hill BookCompany, 1978.

Little, Ian M. D., and James A. Mirrles. Manual of Industrial Project Analysis in Developing Coun-tries, Vol. II: Social Cost Benefit Analysis. Paris: Organisation for Economic Co-operationand Development, 1968.

Little, I. M. D., and J. A. Mirrles. Project Appraisal and Planning for Developing Countries. NewYork: Basic Books, Inc., 1974. (Revised edition of 1968 work.)

Marglin, Stephen A. Approaches to Dynamic Investment Planning. Amsterdam: North-HollandPublishing Company, 1963.

. Public Investment Criteria. London: George Allen & Unwin, Ltd., 1967. Reprinted,Cambridge, Mass.: The M.I.T. Press, 1968.

Marshall, Alfred. Principles of Economics, 8th edition. London: Macmillan and Co., Ltd., 1920.

Mishan, E[zra]. J. Cost-Benefit Analysis, new and expanded edition. New York: Praeger Publish-ers, 1976.

Musgrave, Richard A. The Theory of Public Finance. New York: McGraw-Hill Book Company,1959.

Ng, Yew-Kwang. Welfare Economics. New York: John Wiley & Sons, 1980.

Okun, Arthur M. Equality and Efficiency: The Big Tradeoff. Washington, D.C.: The BrookingsInstitution, 1975.

19

Olson, Mancur. The Logic of Collective Action. Cambridge, Mass: Harvard University Press, 1965.

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Pearce, D[avid]. W. Cost-Benefit Analysis, 2nd edition. New York: St. Martin’s Press, 1983.

Pearce, David W., and C. A. Nash. The Social Appraisal of Projects: A Text in Cost-BenefitAnalysis. New York: John Wiley & Sons, Inc., 1981.

Pen, Jan. Income Distribution. Harmondsworth, Middlesex, England: Penguin Books Ltd., 1971.

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Pigou, A. C. The Economics of Welfare, 1st edition. London: Macmillan and Co. Ltd., 1920.

. A Study in Public Finance, 3rd edition. London: Macmillan and Co. Ltd., 1928.

. The Economics of Welfare, 4th edition. London: Macmillan and Co. Ltd., 1932.

Pollak, Robert A. The Theory of the Cost-of-Living Index. New York: Oxford University Press,1989.

Posner, Richard A. Economic Analysis of Law. Boston: Little, Brown, 1972. 4th edition, 1992.

. The Economics of Justice. Cambridge, Mass.: Harvard University Press, 1981.

Rawls, John. A Theory of Justice. Cambridge, Mass.: Belknap Press of Harvard University Press,1971.

Reder, Melvyn Warren. Studies in the Theory of Welfare Economics. New York: Columbia Uni-versity Press, 1947.

*Samuelson, Paul A. Foundations of Economic Analysis. Cambridge, Mass.: Harvard UniversityPress, 1947.

Sassone, Peter G., and William A. Schaffer. Cost-Benefit Analysis: A Handbook. New York:Academic Press, 1978.

Sen, Amartya. On Economic Inequality. Oxford: Clarendon Press, 1973.

Smith, Vernon L. (editor). Economics of Natural and Environmental Resources. New York: Gordonand Breach, 1977.

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*Starrett, David A. Foundations of Public Economics. Cambridge and New York: Cambridge Uni-versity Press, 1988.

Stigler, George J. The Theory of Price, 3rd edition. London: Collier-Macmillan Limited, 1966.

‡Tietenberg, Tom Environmental and Resource Economics. Reading, Mass.: Addison-Wesley, 2000.

Tinbergen, Jan. On the Theory of Economic Policy. Amsterdam: North-Holland PublishingCompany, 1952.

Tullock, Gordon. The Economics of Income Redistribution. Hingham, Mass.: Kluwer-NijhoffPublishing, 1983.

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. Rent Seeking. Aldershot, Hants, England: Edward Elgar Publishing Limited, and Brook-field, Vermont: Edward Elgar Publishing Company, 1993.

*Ulmer, Melville J., Jr. The Economic Theory of Cost of Living Index Numbers. New York:Columbia University Press, 1949.

Whitcomb, David K. Externalities and Welfare. New York : Columbia University Press, 1972.

21

C. COLLECTIVE WORKS

American Economic Association. Surveys in Economic Theory, Volume II. New York: St. Martin’sPress, 1965.

*Arrow, Kenneth J. Essays in the Theory of Risk-Bearing. Amsterdam: North-Holland PublishingCompany, 1970.

. Collected Papers, Vol. 1: Social Choice and Justice. Cambridge, Mass.: Belknap Press,1983. (a)

. Collected Papers, Vol. 2: General Equilibrium. Cambridge, Mass.: Belknap Press, 1983.(b)

. Collected Papers, Vol. 3: Individual Choice under Certainty and Uncertainty. Cambridge,Mass.: Belknap Press, 1984. (a)

. Collected Papers, Vol. 4: The Economics of Information. Cambridge, Mass.: BelknapPress, 1984. (b)

. Collected Papers, Vol. 5: Production and Capital. Cambridge, Mass.: Belknap Press,1985. (a)

. Collected Papers, Vol. 6: Applied Economics. Cambridge, Mass.: Belknap Press, 1985.(b)

*Arrow, Kenneth J. and Tibor Scitovsky (editors). Readings in Welfare Economics. Homewood,Illinois: Richard D. Irwin, Inc., 1969.

*Ashley, Holt, Richard L. Rudman, and Christopher Whipple (editors). Energy and the Environ-ment: A Risk-Benefit Approach. New York: Pergamon Press, 1976.

Balch, M; McFadden D.; and Wu, S. (editors). Essays on Economic Behavior under Uncertainty.Amsterdam: North-Holland, 1974.

Basmann, R. L., and George F. Rhodes, Jr. Advances in Econometrics, Vol. 4. Greenwich, Conn.,JAI Press, 1985.

Becker, Gary S., and William M. Landes (editors). Essays in the Economics of Crime and Pun-ishment. New York: National Bureau of Economic Research, 1974.

Bergson, Abram. Essays in Normative Economics. Cambridge, Mass.: The Belknap Press ofHarvard University Press, 1966.

*Boskin, Michael J. Economics and Human Welfare: Essays in Honor of Tibor Scitovsky. NewYork: Academic Press, 1979.

Buchanan, James M. (editor). Public Finances: Needs, Sources, and Utilization. Princeton, N.J.:Princeton University Press, 1961.

*Buchanan, James M., Robert D. Tollison, and Gordon Tullock (editors). Toward a Theory of theRent-Seeking Society. College Station, Texas: Texas A&M University Press, 1980.

Buchanan, James M., and Yong J. Yoon (editors). The Return to Increasing Returns. Ann Arbor:The University of Michigan Press, 1994.

22

*Butlin, J[ohn] A. (editor). Economics and Resources Policy. London: Longman Group Limited,1981.

Chase, Samuel B., Jr. (editor). Problems in Public Expenditure Analysis. Washington, D.C.: TheBrookings Institution, 1968.

*Christ, Carl F. et al. Measurement in Economics. Stanford, California: Stanford University Press,1963.

*Coase, Ronald H. The Firm, the Market, and the Law. Chicago: University of Chicago Press, 1988.

*Deaton, Angus (editor). Essays in the Theory and Measurement of Consumer Behaviour: InHonour of Richard Stone. Cambridge: Cambridge University Press, 1981.

Dickinson, Frank G. (editor). Philanthropy and Public Policy. New York: National Bureau ofEconomic Research and Columbia University Press, 1962.

*Diewert, W. E. (editor). Price Level Measurement. Amsterdam: North-Holland, 1990.

Diewert, W. E., and C. Montmarquette (editors). Price Level Measurement. Ottawa: Minister ofSupply and Services Canada, 1983.

Diewert, W. Erwin, and Alice O. Nakamura (editors). Essays in Index Number Theory, Vol. 1.Amsterdam: North-Holland Publishing Company, 1993.

Dionne, Georges (editor). Contributions to Insurance Economics. Boston and Dordrecht: KluwerAcademic Publishers, 1992.

Dorfman, Robert (editor). Measuring Benefits of Government Investments. Washington, D.C.:The Brookings Institution, 1965.

Eatwell, John, Murray Milgate, and Peter Newman (editors). The New Palgrave. A Dictionary ofEconomics, 4 vols. London: The Macmillan Press Ltd., and New York: The Stockton Press,1987. [Wilson Reference.]

Feiwel, George R. (editor). Samuelson and Neoclassical Economics. Boston and The Hague:Kluwer-Nijhoff Publishing, 1982.

*Hagemann, Harald, and Omar F. Hamouda (editors). The Legacy of Hicks. London and New York:Routledge, 1994.

Harberger, Arnold C. Project Evaluation. Collected Papers. Chicago: Markham Publishing Com-pany, n.d. (c1972).

* . Taxation and Welfare. Boston: Little, Brown and Company, 1974.

Hausman, Jerry A. (editor). Contingent Valuation: A Critical Assessment. Amsterdam: North-Holland Publishing Company, 1993.

*Haveman, Robert H., and Julius Margolis (editors). Public Expenditures and Policy Analysis.Chicago: Markham Publishing Company, 1970.

Hayek, Friedrich A. (editor). Collectivist Economic Planning. London: Routledge & Kegan PaulLtd., 1935.

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