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Applied welfare economics : [Book] : cost-benefit anaylsis of projects and policies / Massimo Florio.

By: Material type: TextTextSeries: Description: xxv, 412 pages : illustrations ; 24 cmISBN:
  • 9780415858311
Subject(s): DDC classification:
  • 330.126
Other classification:
  • 330.126
Summary: This book offers a unique and original blend of theory, empirics and experience. The theoretical discussion clarifies why shadow prices are not virtual market equilibrium prices, as they arise as the solution of a planning problem, often with governments and economic agents constrained in their information and powers. The empirical chapters show how to compute proxies of the shadow prices in simple ways. The experience chapters draw from first hand research, gained by the Author and his collaborators over many years of advisory work for the European Commission and other international and national institutions.
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This book offers a unique and original blend of theory, empirics and experience. The theoretical discussion clarifies why shadow prices are not virtual market equilibrium prices, as they arise as the solution of a planning problem, often with governments and economic agents constrained in their information and powers. The empirical chapters show how to compute proxies of the shadow prices in simple ways. The experience chapters draw from first hand research, gained by the Author and his collaborators over many years of advisory work for the European Commission and other international and national institutions.

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