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Essays on Individual Decision-making and Social Welfare

	Essays On Individual Decision-Making And Social Welfare by Prasanta K. Pattanaik
	Price : Rs 950.00
	Your Price : Rs 855.00

This volume brings together nineteen essays, written and published over nearly four decades. Divided into five sections, the volume deals with topics in two distinct areas: (i) the theory of decision-making by individuals, and (ii) welfare economics and the theory of social choice.

The first eight essays, which are concerned with individual decisions, discuss choice when the decision-maker’s preferences are vague, stochastic preferences and choice, and choice under uncertainty when the decision-maker does not have probabilities for outcomes. Thus, these essays are all concerned with situations outside the conventional frameworks of classical theories of rational choice under perfect certainty and uncertainty.

The remaining twelve essays explore various issues in the theory of welfare economics and social choice, including classical problems of aggregation of preferences and welfare judgements, the formal modeling of individual rights, the tension between individual rights and the Pareto principle, measurement of freedom, and the measurement of living standards and deprivation in a multi-dimensional framework.
ISBN - 9780195695960