Studies in Choice and Welfare
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Prof. Mrinal Datta Chaudhuri, MDC to All His Students, and Mrinal-Da to His Junior Colleagues and Friends, Was a Legendary Teacher of the Delhi School of Economics
Prof. Mrinal Dutta Chaudhuri Memorial Meeting Tuesday, 21st July, 2015 at DELHI SCHOOL OF ECONOMICS University of Delhi Delhi – 110007 1 1934-2015 2 3 PROGRAMME Prof. Pami Dua, Director, DSE - Opening Remarks (and coordination) Dr. Malay Dutta Chaudhury, Brother of Late Prof. Mrinal Dutta Chaudhuri Prof. Aditya Bhattacharjea, HOD Economics, DSE - Life Sketch Condolence Messages delivered by : Dr. Manmohan Singh, Former Prime Minister of India (read by Prof. Pami Dua) Prof. K.L.Krishna Prof. Badal Mukherji Prof. K. Sundaram Prof. Pulin B. Nayak Prof. Partha Sen Prof. T.C.A. Anant Prof. Kirit Parikh Mr. Nitin Desai Prof. J.P.S. Uberoi Prof. Pranab Bardhan Prof. Andre Beteille, Prof.Amartya Sen (read by Prof. Rohini Somanathan) Prof. Kaushik Basu, Dr. Omkar Goswami (read by Prof. Ashwini Deshpande) Prof. Abhijit Banerjee, Prof. Anjan Mukherji, Dr. Subir Gokaran (read by Prof. Aditya Bhattacharjea) Prof. Prasanta Pattanaik, Prof. Bhaskar Dutta, Prof. Dilip Mookherjee (read by Prof. Sudhir Shah) Dr. Sudipto Mundle Prof. Ranjan Ray, Prof. Vikas Chitre (read by Prof. Aditya Bhattacharjea) Prof. Adi Bhawani Mr. Paranjoy Guha Thakurta Prof. Meenakshi Thapan Prof. B.B.Bhattacharya, Prof. Maitreesh Ghatak, Prof.Gopal Kadekodi, Prof. Shashak Bhide, Prof.V.S.Minocha, Prof.Ranganath Bhardwaj, Ms. Jasleen Kaur (read by Prof. Pami Dua) 4 Prof. Pami Dua, Director, DSE We all miss Professor Mrinal Dutta Chaudhuri deeply and pay our heartfelt and sincere condolences to his family and friends. We thank Dr. Malay Dutta Chaudhuri, Mrinal’s brother for being with us today. We also thank Dr. Rajat Baishya, his close relative for gracing this occasion. -
The Death of Welfare Economics: History of a Controversy
A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Igersheim, Herrade Working Paper The death of welfare economics: History of a controversy CHOPE Working Paper, No. 2017-03 Provided in Cooperation with: Center for the History of Political Economy at Duke University Suggested Citation: Igersheim, Herrade (2017) : The death of welfare economics: History of a controversy, CHOPE Working Paper, No. 2017-03, Duke University, Center for the History of Political Economy (CHOPE), Durham, NC This Version is available at: http://hdl.handle.net/10419/155466 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte. may exercise further usage rights as specified in the indicated licence. www.econstor.eu The death of welfare economics: History of a controversy by Herrade Igersheim CHOPE Working Paper No. 2017-03 January 2017 Electronic copy available at: https://ssrn.com/abstract=2901574 The death of welfare economics: history of a controversy Herrade Igersheim December 15, 2016 Abstract. -
Economics and Ethics of the Welfare State
The Third Welfare Policy Seminar Economics and Ethics of the Welfare State (held on March 8, 1999, Tokyo) Review of Population and Social Policy, No. 8, 1999, 119–138. Welfare Economics and the Welfare State* Kotaro SUZUMURA** The complicated analyses which economists endeavour to carry through are not mere gymnastic. They are instruments for the bettering of human life. The misery and squalor that surround us, the injurious luxury of some wealthy families, the terrible uncertainty overshadowing many families of the poor—these are evils too plain to be ignored. By the knowledge that our science seeks it is possible that they may be restrained. Out of the darkness light! To search for it is the task, to find it perhaps the prize, which the “dismal science of Political Economy” offers to those who face its discipline. — Arthur Cecil Pigou*** 1. Introduction The time is now ripe for re-examining the concept of the welfare state with a view to searching for a common understanding on the agenda and ethical foundations of the welfare state in a contemporary society. The time is also ripe for re-orienting welfare economics with a view to renovating this discipline so that it can contribute actively to the enhancement of human well-being in general, and to the design and implementation of fully-fledged welfare state policies in particular. The necessity and urgency of such a re-examination and re- orientation seem all too clear for at least two reasons. First, ever since the publication of Amartya Sen’s epoch-making synthesis of social choice theory in 1970 and John Rawls’s monumental edifice in moral and political philosophy in 1971, the concept of well-being has been enriched substantially, liberating us from the narrow cage of utilitarian sum of individual utilities, and enabling us to accommodate such basic considerations as liberty, * Paper presented at the Third Welfare Policy Seminar on the Economics and Ethics of the Welfare State held at the United Nations University in Tokyo on March 8, 1999. -
Brief Biography of Kotaro Suzumura
Brief Biography of Kotaro Suzumura July 20, 2005 Kotaro Suzumura is Professor of Public Economics at the Institute of Economic Research, Hitotsubashi University. Since 2003, he has been serving as the Director of Competition Policy Research Center within the Fair Trade Commission of Japan. He is also the leader of the 21 st Century Center of Excellence (COE) Project on Normative Evaluation and Social Choice of Contemporary Economic Systems at Hi- totsubashi University. He was born in Tokoname, Aichi Prefecture, Japan on the 7th of January 1944. After graduating from Hitotsubashi University in 1966 majoring in economics, he completed his Ph. D course work at Hitotsubashi University in 1971. It was in 1980 that he received the doctoral degree (Doctor in Economics) from Hitotsubashi University. His doctoral dissertation, which was subsequently published by Cam- bridge University Press in 1983, was Rational Choice, Collective Decisions and Social Welfare. He has taught at Department of Economics, Hitotsubashi University in 1971-73 and then at Kyoto Institute of Economic Research, Kyoto University in 1973-82. He joined the Institute of Economic Research, Hitotsubashi University in 1982. He also taught at London School of Economics in 1974-76, Stanford University in 1979-80, Australian National University in 1986, University of Pennsylvania in 1987, Essex University in 1990-91, and the University of British Colombia in 1994. He was a Visiting Fellow at All Souls College, Oxford University in 1988, a Fulbright Senior Research Fellow at Harvard University in 1993, and a Visiting Fellow Commoner at Trinity College, Cambridge University in 2001. He is a Fellow of the Econometric Society since 1990. -
Coercion, Contract and the Limits of the Market
CAE Working Paper #06-01 Coercion, Contract and the Limits of the Market by Kaushik Basu January 2006 . January 3, 2006 Coercion, Contract and the Limits of the Market Kaushik Basu Department of Economics Cornell University Ithaca, New York 14853 Email: [email protected] Abstract It is a widely accepted principle of economics that if two or more adults voluntarily agree to a contract or an exchange that has no negative fall-out on others, then the government should not stop such a contract. This is often called the ‘principle of free contract’ (PFC). There is a body of writing in economics which upholds the PFC. Yet, this ubiquitous principle is ill-defined and full of ambiguities. For instance, since it refers to voluntary choice, its proper use presumes an understanding of what is ‘voluntary’ and, therefore, also, of what is coercive. What is ironic is that, while philosophers and legal scholars have debated and analyzed these concepts and the validity of the principle of free contract, there is very little discussion of these in economics, even though so much of economics is founded on this principle. This has caused a lot of policy confusion. The aim of this paper is to construct general rules for when we may violate the PFC. The argument is constructed within the Paretian framework. Hence, the violation of the PFC is not justified by appeal to deontological ethics or non-welfarist criteria. This is not an easy task since the principle of free contract is often viewed as a rule that is a derivative of the Pareto principle. -
Curriculum Vitae
Curriculum Vitae Yongsheng Xu Department of Economics Andrew Young School of Policy Studies Georgia State University P.O. Box 3992 Atlanta, GA 30302-3992, U.S.A. Telephone: (404) 413 0158 Fax: (404) 413 0145 E-mail: [email protected] Education: BSc. (Applied Mathematics), Lanzhou University (China), 1985 MA. (Economics), Tulane University, 1987 Ph.D. (Economics), Tulane University, 1992 Positions Held: Professor, Georgia State University, 2004-present Associate Professor, Georgia State University, 1999-2004 Lecturer, University of Nottingham, 1995-2001 Associate Professor, Hitotsubashi University, 1998-1999 Lecturer, University of Durham, 1994-1995 Visiting Assistant Professor, Tulane University, 1993-1994 Visiting Positions: Hitotsubashi University, Japan (March 2003) University of Graz, Austria (May-June 2003) University of Bielefed, Germany (March 2002) Honors and Awards: Fellow, Human Development and Capability Association, 2004-present Fellow, Murphy Institute of Political Economy, Tulane University, 1992-1993 Fellow, Centre in Political Economy,Washington University, 1991-1992 Research Interests: Microeconomic theory, individual and social choice theory, welfare economics bargaining theory Courses Taught: undergraduate: Public Finance, Microeconomics, Macroeconomics, Welfare Economics, Game Theory, Math for Economists graduate: Public Economics, General Equilibrium and Welfare, Microeconomics (I), Game Theory, Information and Uncertainty, Mathematics for Economists Editorial Duties: Associate Editor, Social Choice and Welfare, 2005- Guest Editor, Mathematical Social Sciences, 2003 Publications, Books: 1. Rational Choice and Social Welfare, (co-edited with Prasanta K. Pattanaik, Koichi Tadenuma, and Naoki Yoshihara), Springer, 2008. Publications, Refereed Scholarly: 1. Ranking Sets of Characteristics (with Wulf Gaertner), Social Choice and Welfare, forthcoming. 2. On Thoughtfulness and Generosity in Sequential Decisions (with Fang Fang Tang), Social Choice and Welfare, forthcoming. -
Mphil-Phd Handbook of Information 2020
DEPARTMENT OF ECONOMICS DELHI SCHOOL OF ECONOMICS HANDBOOK OF INFORMATION M.Phil. and Ph.D. in Economics 2020 UNIVERSITY OF DELHI DELHI-110007 CONTENTS Page Summary of Important Information iii 1. Introduction 1 2. Application Procedure and Entrance Examination 9 3. Coursework and Other Requirements; Fees and Financial Assistance 11 4. Ratan Tata Library 14 ii IMPORTANT INFORMATION 1. Registration for admission to all M.Phil. and Ph.D. programmes of the University of Delhi (including those offered by the Department of Economics, Delhi School of Economics) is carried out on-line by the University according to rules and procedures described in the University’s Bulletin of Information, which should be read carefully before filling the on-line application form. Details are available on the M.Phil.-Ph.D. Admission Portal on the website of the University of Delhi, www.du.ac.in. Applicants are responsible for regularly checking the portal for any updates. This Handbook provides additional information for candidates intending to apply for the M.Phil. and Ph.D. programmes in Economics. 2. For information about the application process and date, time and venues of the Entrance Test, please consult admission portal. Any questions should be directed to the helpline number /email address given there. The Department of Economics has no role to play in this process. In particular, the list of shortlisted candidates and the dates for the interview will be announced only after receiving the results of the first- stage entrance test from the University. 3 Department of Economics Delhi School of Economics Office Hours 9:00 a.m. -
Curriculum Vitae
CURRICULUM VITAE INDRANEEL DASGUPTA Professor Economic Research Unit, Indian Statistical Institute 203 Barrackpore Trunk Road, Kolkata 700108, West Bengal, India Phone: +91 33 2575 2613 Fax: +91 33 2577 8893 E-mail: [email protected] PERSONAL DETAILS: Date of Birth: 31st August, 1967. Nationality: Indian. EDUCATION: Ph.D. in Economics, University of California, Riverside, USA: Dec. 1997. M.A. (First Class) in Economics, Jawaharlal Nehru University, Delhi, India: 1991. B.Sc. (First Class Honors in Economics), Presidency College (University of Calcutta), India: 1989. ACADEMIC HONORS: Guru Gobind Singh Fellowship: 1996-97. Phi Beta Kappa Award: 1996-97. Nonresident Tuition Fellowship, UCR: 1995-96. Third Year Paper Prize, Department of Economics, UCR: 1994-95. "Pass with Distinction", Ph.D. Comprehensive Examination in Microeconomic Theory, UCR: 1994. "Pass with Distinction", Ph.D. Comprehensive Examination in Development Economics, UCR: 1994. "Pass with Distinction", Ph.D. Comprehensive Examination in Macroeconomic Theory, UCR: 1994. University Grants Commission Junior Research Fellowship, Government of India: 1991-1992. "Pass with First Class", M.A. Examination, Jawaharlal Nehru University: 1991. DPI Scholarship, Government of India: 1989-91. "Pass with First Class Honors", B.Sc. Examination, University of Calcutta: 1989. 1 EMPLOYMENT: 23 August 2012 – present: Professor, Indian Statistical Institute, Kolkata, India. November 2010 – 22 August 2012: Professor, Centre for Studies in Social Sciences, Kolkata, India. January 2009 – October 2010: Professor, Durham University, UK. August 2006 – December 2008: Associate Professor and Reader, University of Nottingham, UK. August 2004 – July 2006: Associate Professor and Senior Lecturer, University of Nottingham, UK. February 1999 – July 2004: Lecturer, University of Nottingham, UK. December 1997- January 1999: Lecturer, Deakin University, Australia. -
Pigou's “Old” Welfare Economics, Hicks's Farewell to Welfarism
Pigou’s “Old” Welfare Economics, Hicks’s Farewell to Welfarism, and Sen’s Non-Consequentialist Economics of Well-Being and Freedom Kotaro Suzumura Professor Emeritus, Hitotsubashi University Professor Emeritus and Honorary Fellow, Waseda University and Member of the Japan Academy September 5, 2016 Paper prepared for the Conference on Economic Thought of Cambridge, Oxford, LSE, and the Transformation of the Welfare State, September 5-7, 2016 held at Sano Shoin, Hitotsubashi University, Kunitachi, Tokyo, Japan. Acknowledgements I am grateful to Kenneth Arrow, Roger Backhouse, Walter Bossert, Tamotsu Nishi- zawa, Amartya Sen, Koichi Tadenuma, and Yongsheng Xu for their helpful comments and discussions over the years. Thanks are also due to the financial support provided by the Research Project (Pursuit of Normative Economics with Extended Informational Bases, and the Re-examination of Its Doctrinal History) through the Grant-in-Aid for Scientific Research from the Ministry of Education, Culture, Sports, Science and Tech- nology of Japan (grant number 16H03599). I am indebted to the University of Hyogo, which enabled me to scrutinize two unpublished documents [Hicks (no date; c. 1955) and Hicks (no date; c. 1963)] kept as part of the Library and Papers of Sir John Hicks. Without this fortunate access, I would not have solidified my understanding of the meanng and reach of Hicks’s non-welfarist manifesto. 1 Abstract John Richard Hicks played a crucial role in creating the “new” welfare economics on the basis of hypothetical compensation principle immediately after Arthur Pigou’s “old” welfare economics collapsed in face of Lionel Robbins’s epistemological criticism on the Benthamite utilitarian basis of Pigou’s edifice. -
The Saga of the Delhi School of Economics a Sketch K.L
2 The Saga of the Delhi School of Economics A Sketch K.L. KRISHNA Introduction The Delhi School of Economics (DSE) is an institution of national importance conceived on the eve of Independence and founded in 1949 by the visionary economist, Prof V.K.R.V. Rao. The purpose of this essay is to trace the evolution of DSE, which will soon be completing seven decades of its existence. The original DSE grew out of the Department of Economics of the University of Delhi. In 1959, the departments of Sociology and Human Geography were created on the initiative of the then Vice-Chancellor V.K.R.V. Rao, as constituent units of DSE and located on its campus. This essay deals only with the evolution of the Department of Economics, the original DSE. Dharma Kumar and Dilip Mookherjee (1995) book covers the departments of Economics and Sociology. It contains 31 essays contributed by some teachers and former students in the two departments. The essays by K.N. Raj, A.L. Nagar, Amartya Sen, Prasanta Pattanaik, Prabhat Patnaik, Ashok Lahiri, Mrinal Datta Chaudhuri, Kaushik Basu and Jean Dreze and by a few students of This essay is prepared in memory of the late Raj Kapila who was a student of V. K.R.V. Rao, B.N. Ganguly and P.N. Dhar in the MA Economics programme at the DSE during 1953-1955. The author of the essay had the privilege of knowing the scholar-entrepreneur Raj Kapila for nearly four decades before his sad demise in August 2016. Economics provide useful information and fresh insights regarding the academic performance of the department over the years until early 1990s. -
The Possibility of Sociai Choice^
The Possibility of Sociai Choice^ By AMARTYA SEN* "A camel," it has been said, "is a horse de- predicaments of the different individuals within signed by a committee." This might sound like the society? How can we find any rational basis a telling example of the terrible deficiencies of for making such aggregative judgements as "the committee decisions, but it is really much too society prefers this to that," or "the society mild an indictment. A camel may not have the should choose this over that," or "this is socially speed of a horse, but it is a very useful and right"? Is reasonable social choice at all possi- harmonious animal—well coordinated to travel ble, especially since, as Horace noted a long long distances without food and water. A com- time ago, there may be "as many preferences as mittee that tries to reflect the diverse wishes of there are people"? its different members in designing a horse could very easily end up with something far less I. Social Choice Theory congruous: perhaps a centaur of Greek myth- ology, half a horse and half something else—a In this lecture, I shall try to discuss some mercurial creation combining savagery with challenges and foundational problems faced by confusion. social choice theory as a discipline.' The imme- The difficulty that a small committee experi- diate occasion for this lecture is, of course, an ences may be only greater when it comes to award, and I am aware that I am expected to decisions of a sizable society, reflecting the discuss, in one form or another, my own work choices "of the people, by the people, for the associated with this event (however immodest people." That, broadly speaking, is the subject that attempt might otherwise have been). -
Masahiko Aoki Memorial Conference and Celebration of Life
Masahiko Aoki Memorial Conference and Celebration of Life December 4-5, 2015 Bechtel Conference Center Encina Hall 616 Serra Street Stanford University Dear friends and colleagues of Masahiko Aoki: Thank you for joining us in celebrating Masa's life today. April 27, 2015 -- the day after Masa was admitted to the hospital -- was our 40th wedding anniversary. Masa traveled a lot during our 40 years together, and after our daughters left for college I was able to join him on many of his travels. We visited many countries together and I got a chance to get to know his friends and colleagues, many of you who have traveled from all over the world to be with us today. Masa loved interesting conversation, drinking good wine, and eating delicious meals with good company. I will cherish these memories with you as a gift from Masa. I hope to continue the friendship that each of you had offered to us over the years. Thank you again, Reiko Aoki Masahiko Aoki Memorial Conference on Economics December 4, 2015 Conference Program: Morning Sessions 8:30am - 8:50am Breakfast & Registration 8:50am - 9:00am Welcome Remarks Takeo Hoshi (Stanford University) 9:00am - 9:30am Kenneth Arrow (Stanford University), “Role of Organizational Structure in the Economy” 9:30am - 10:00am Paul Milgrom (Stanford University), “Designing the US Incentive Auction” 10:00am - 10:30am Break 10:30am - 11:00am Koichi Hamada (Yale University), “Masahiko Aoki: A Social Scientist” 11:00am - 11:30am Kotaro Suzumura (Hitotsubashi University) “Masahiko Aoki (1938-2015): Recollections