Social welfare function

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Related lectures (32)

Market Regulation: Addressing External Costs in Production

Covers optimal production analysis, external costs, and regulatory approaches like taxes and cap-and-trade systems.

Pareto Efficiency and Social Welfare

Explores Pareto efficiency, social welfare, and asset pricing optimization in complete and incomplete markets.

Departure Time Choice: Modeling and Equilibria

Covers departure time choice in transportation systems and optimal pricing strategies.

Cost-Benefit Analysis: Decision Making and Ethics

Explores cost-benefit analysis in decision-making, emphasizing ethical considerations and societal values.

Understanding Tariffs Impact

Explores supply and demand basics, consumer and producer welfare under tariffs, and equilibrium price adjustments.

Optimal Competitive Markets

Explores the equilibrium in competitive markets, the impact of non-competitive forces, and the role of government intervention in aligning markets with social welfare.

Potential Games: Best-Response Dynamics and Equilibria

Covers potential games, their properties, and the convergence of best-response dynamics to Nash equilibria.

Market Equilibrium: Efficiency and Regulation

Explores market equilibrium, price regulation, demand and supply shifts, and social welfare.

Market Regulation: External Costs and Social Optimum

Addresses market regulation, focusing on external costs, social optimum, and the role of taxes and subsidies in achieving efficient production levels.

Market Failures and State Interventions

Covers market failures, state interventions, public goods, externalities, and natural monopolies.

Market Regulation: Willingness to Pay and Accept

Covers willingness to pay, willingness to accept, market equilibrium, and the impact of external costs on production and total surplus.

Potential Games: Best Response Dynamics and Nash Equilibria

Covers potential games, best response dynamics, and the convergence to Nash equilibria.

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