The welfare economics (English welfare economics) is a subrange of the political economy.

It examines the effects of economic acting (particularly of the assignment of vested titles) and national influences on the gross income of a national economy as well as on the distribution of incomes and use between the involved ones. If two action alternatives are compared, thereby above all the welfare losses which experience individual participants or the society altogether in relation to another solution, interest. Also from a Determinismus between market structure, Marktverhalten and market result one proceeds.

The choice of the yardstick, which is to be used for the evaluation of an economic situation, contains an in any case confession to a Werturteil, even if to the normative character mostly explicitly one does not refer. The is therefore a branch of the normative economics. A frequently used yardstick of the welfare economics is the Pareto efficiency.

As first representatives of this branch of the political economy Amartya Sen received the Nobelpreis for economic science in the year 1998.

see also

• Welfare function
• Net welfare
• Theory of the rights of disposal
• New
• Normative economics

Articles in category "Welfare economics"

We found here 14 articles.