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Efficiency, Institutions, and Economic Policy - Proceedings of a Workshop Held by the Sonderforschungsbereich 5 at the University of Mannheim, June 1986 (Paperback, Softcover reprint of the original 1st ed. 1987)
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Efficiency, Institutions, and Economic Policy - Proceedings of a Workshop Held by the Sonderforschungsbereich 5 at the University of Mannheim, June 1986 (Paperback, Softcover reprint of the original 1st ed. 1987)
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In a neoclassical world the existence of non-zero transaction
costs, nonconvex technologies, public goods and so on creates
inefficiencies which can be dealt with by various institutions.
But, institutions can create inefficiencies of their own. This
volume addresses the issue of efficiency and institutions from
different angles. First, the efficiency of modern welfare states is
analyzed on a general level where topics like social justice,
redistribution and rent seeking are studied in an environment of
pressure groups and self-interested politicians (papers by Streit,
Schlieper, Wickstrom). Second, several papers deal with more
specific issues like intergenerational transfers in a social
insurance system, the efficiency of law, and contractual
arrangements in the labor market (Witt, Rowley and Brough, Monissen
and Wenger). Third, allocation procedures for nonexclusive public
goods are analyzed (Guth and Hellwig, Pethig).
General
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