Matches in DBpedia 2015-10 for { <http://dbpedia.org/resource/Fundamental_theorems_of_welfare_economics> ?p ?o }
Showing triples 1 to 83 of
83
with 100 triples per page.
- Fundamental_theorems_of_welfare_economics abstract "There are two fundamental theorems of welfare economics. The first states that any competitive equilibrium or Walrasian equilibrium leads to a Pareto efficient allocation of resources. The second states the converse, that any efficient allocation can be sustainable by a competitive equilibrium.The first theorem is often taken to be an analytical confirmation of Adam Smith's "invisible hand" hypothesis, namely that competitive markets tend toward an efficient allocation of resources. The theorem supports a case for non-intervention in ideal conditions: let the markets do the work and the outcome will be Pareto efficient. However, Pareto efficiency is not necessarily the same thing as desirability; it merely indicates that no one can be made better off without someone being made worse off. There can be many possible Pareto efficient allocations of resources and not all of them may be equally desirable by society.The second theorem states that out of all possible Pareto-efficient outcomes, one can achieve any particular one by enacting a lump-sum wealth redistribution and then letting the market take over. This appears to make the case that intervention has a legitimate place in policy – redistributions can allow us to select from all efficient outcomes for one that has other desired features, such as distributional equity. The shortcoming is that for the theorem to hold, the transfers have to be lump-sum and the government needs to have perfect information on individual consumers' tastes as well as the production possibilities of firms. An additional mathematical condition is that preferences and production technologies have to be convex.Because of welfare economics' close ties to social choice theory, Arrow's impossibility theorem is sometimes listed as a third fundamental theorem.The ideal conditions of the theorems, however are an abstraction. The Greenwald-Stiglitz theorem, for example, states that in the presence of either imperfect information, or incomplete markets, markets are not Pareto efficient. Thus, in real world economies, the degree of these variations from ideal conditions must factor into policy choices. Further, even if these ideal conditions hold, the First Welfare Theorem fails in an overlapping generations model.".
- Fundamental_theorems_of_welfare_economics wikiPageID "1488195".
- Fundamental_theorems_of_welfare_economics wikiPageLength "13706".
- Fundamental_theorems_of_welfare_economics wikiPageOutDegree "36".
- Fundamental_theorems_of_welfare_economics wikiPageRevisionID "679035470".
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Abba_Lerner.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Abba_P._Lerner.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Adam_Smith.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Arrows_impossibility_theorem.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Category:Economics_theorems.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Category:Fundamental_theorems.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Category:General_equilibrium_and_disequilibrium.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Category:Mathematical_economics.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Category:Welfare_economics.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Closure_(mathematics).
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Competitive_equilibrium.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Complete_market.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Continuous_function.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Convex_preferences.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Convex_set.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Gérard_Debreu.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Harold_Hotelling.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Hyperplane_separation_theorem.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Invisible_hand.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Joseph_Stiglitz.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Kenneth_Arrow.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Local_nonsatiation.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Lump-sum.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Lump_sum.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Market_power.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Maurice_Allais.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Oskar_Lange.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Oskar_R._Lange.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Overlapping_generations_model.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Pareto_efficiency.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Perfect_information.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Price-taking.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Separating_hyperplane_theorem.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Social_choice_theory.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Theorem.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Theorems.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Walrasian_equilibrium.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLink Welfare_economics.
- Fundamental_theorems_of_welfare_economics wikiPageWikiLinkText "First and Second Welfare Theorems".
- Fundamental_theorems_of_welfare_economics wikiPageWikiLinkText "Fundamental theorems of welfare economics".
- Fundamental_theorems_of_welfare_economics wikiPageWikiLinkText "Second Fundamental Theorem of Welfare Economics".
- Fundamental_theorems_of_welfare_economics wikiPageWikiLinkText "first fundamental theorem of welfare economics".
- Fundamental_theorems_of_welfare_economics wikiPageWikiLinkText "first fundamental welfare theorem".
- Fundamental_theorems_of_welfare_economics wikiPageWikiLinkText "fundamental theorems of welfare economics".
- Fundamental_theorems_of_welfare_economics wikiPageWikiLinkText "fundamental theorems".
- Fundamental_theorems_of_welfare_economics wikiPageWikiLinkText "the first fundamental theorem of welfare economics".
- Fundamental_theorems_of_welfare_economics wikiPageWikiLinkText "welfare theorems".
- Fundamental_theorems_of_welfare_economics hasPhotoCollection Fundamental_theorems_of_welfare_economics.
- Fundamental_theorems_of_welfare_economics wikiPageUsesTemplate Template:Reflist.
- Fundamental_theorems_of_welfare_economics subject Category:Economics_theorems.
- Fundamental_theorems_of_welfare_economics subject Category:Fundamental_theorems.
- Fundamental_theorems_of_welfare_economics subject Category:General_equilibrium_and_disequilibrium.
- Fundamental_theorems_of_welfare_economics subject Category:Mathematical_economics.
- Fundamental_theorems_of_welfare_economics subject Category:Welfare_economics.
- Fundamental_theorems_of_welfare_economics hypernym Theorems.
- Fundamental_theorems_of_welfare_economics type Article.
- Fundamental_theorems_of_welfare_economics type Article.
- Fundamental_theorems_of_welfare_economics type Microeconomic.
- Fundamental_theorems_of_welfare_economics type Socioeconomic.
- Fundamental_theorems_of_welfare_economics type Theorem.
- Fundamental_theorems_of_welfare_economics comment "There are two fundamental theorems of welfare economics. The first states that any competitive equilibrium or Walrasian equilibrium leads to a Pareto efficient allocation of resources. The second states the converse, that any efficient allocation can be sustainable by a competitive equilibrium.The first theorem is often taken to be an analytical confirmation of Adam Smith's "invisible hand" hypothesis, namely that competitive markets tend toward an efficient allocation of resources.".
- Fundamental_theorems_of_welfare_economics label "Fundamental theorems of welfare economics".
- Fundamental_theorems_of_welfare_economics sameAs Wohlfahrtstheoreme.
- Fundamental_theorems_of_welfare_economics sameAs Teoremas_fundamentales_de_la_economía_del_bienestar.
- Fundamental_theorems_of_welfare_economics sameAs قضایای_بنیادی_اقتصاد_رفاه.
- Fundamental_theorems_of_welfare_economics sameAs Théorème_du_bien-être.
- Fundamental_theorems_of_welfare_economics sameAs A_jóléti_közgazdaságtan_két_tétele.
- Fundamental_theorems_of_welfare_economics sameAs Teoremi_delleconomia_del_benessere.
- Fundamental_theorems_of_welfare_economics sameAs 厚生経済学の基本定理.
- Fundamental_theorems_of_welfare_economics sameAs 후생경제학의_기본_정리.
- Fundamental_theorems_of_welfare_economics sameAs m.055b5n.
- Fundamental_theorems_of_welfare_economics sameAs Первая_теорема_благосостояния.
- Fundamental_theorems_of_welfare_economics sameAs Фундаменталне_теореме_економике_благостања.
- Fundamental_theorems_of_welfare_economics sameAs Q467205.
- Fundamental_theorems_of_welfare_economics sameAs Q467205.
- Fundamental_theorems_of_welfare_economics sameAs 福利经济学基本定理.
- Fundamental_theorems_of_welfare_economics wasDerivedFrom Fundamental_theorems_of_welfare_economics?oldid=679035470.
- Fundamental_theorems_of_welfare_economics isPrimaryTopicOf Fundamental_theorems_of_welfare_economics.