Acknowledgements

Introduction

Tyler Cowen

PART I FOUNDATIONS

`General Equilibrium Theory and Welfare Economics', in Microeconomic Analysis, Second Edition, Chapter 5, New York and London: W.W. Norton and Company, 189--211

Hal R. Varian

`Three Basic Postulates for Applied Welfare Economics: An Interpretive Essay', Journal of Economic Literature, IX (3),September, 785--97

Arnold C. Harberger

`Personal Utilities and Public Judgements: Or What's Wrong With Welfare Economics?', Economic Journal, 89 (335), September, 537--58

Amarta Sen

`The Scope and Limits of Preference Sovereignty', Economics and Philosophy, 9, 253--69

Tyler Cowen

`Cost-Benefit Analysis: An Ethical Critique', Regulation, January/February, 33--40

Steven Kelman

`Were the Ordinalists Wrong About Welfare Economics?', Journal of Economic Literature, XXII (2), June, 507--30

Robert Cooter

Peter Rappoport

`The Living Standard', Oxford Economic Papers, 36, Supplement, November, 74--90

Amartya Sen

`What a Non-Paretian Welfare Economics Would Have to Look Like', in Don Lavoie (ed.), Economics and Hermeneutics, Chapter 13, London and New York: Routledge, 285--98

Tyler Cowen

PART II COST--BENEFIT ANALYSIS

`Consumer's Surplus Without Apology', American Economic Review, 66(4), September, 589--97

Robert D. Willig

`The New Welfare Economics 1939--1974', International Economic Review, 19(3), October, 547--84

John S. Champion

James C. Moore

`The General Theory of Second Best', in Richard G. Lipsey (ed.), Microeconomics, Growth and Political Economy: The Selected Essays of Richard G. Lipsey, Volume One, Chapter 6, Cheltenham, UK and Lyme, US: Edward Elgar, 153--80 [A revised version of an article originally published in the Review of Economic Studies, XXIV, 1956, 11--32]

Richard G. Lipsey

Kelvin Lancaster

`A Primer on the Major Issues Relating to the Discount Rate for Evaluating National Energy Options', in Robert C. Lind, Kenneth J. Arrow, Gordon R. Corey, Partha Dasgupta, Amartya K. Sen, Thomas Stauffer, Joseph E. Stiglitz, J.A. Stockfisch and Robert Wilson (eds), Discounting for Time and Risk in Energy Policy, Chapter 2, Washington, DC: Resources for the Future, Inc., 21--94

Robert C. Lind

`Risk and the Discount Rate for Public Investment', in Michael C. Jensen (ed.), Studies in the Theory of Capital Markets, New York: Praeger Publishers, 269--93

Martin J. Bailey

Michael C. Jensen

`Cost-Benefit Analysis under Uncertainty', American Economic Review, 71 (4), September, 715--25

Daniel A. Graham

`The Life You Save May Be Your Own', in Samuel B. Chase, Jr (ed.), Problems in Public Expenditure Analysis, Washington, DC: Brookings Institution, 127--62

T.C. Schelling

`The Ethical and Political Basis of Wealth Maximization', in The Economics of Justice, Chapter 4, Cambridge, Massachusetts: Harvard University Press, 88--115

Richard A. Posner

`Is Wealth a Value?', Journal of Legal Studies, IX (2), March, 191--226

Ronald M. Dworkin

`On the Use of Distributional Weights in Social Cost--Benefit Analysis', Journal of Political Economy, 86 (2), Part 2, April, S87--S120

Arnold C. harberger

PART III SOCIAL CHOICE AND UTILITARIANISM

`A Very Unsubtle Version of Arrow's Impossibility Theorem', Economic Inquiry, XII (4), December, 534--46

Allan M. Feldman

`A Difficulty in the Concept of Social Welfare', in Social Choice and Justice: Collected Papers of Kenneth J. Arrow, Chapter 1, Oxford: Basil Blackwell, 1--29 [Reprinted from Journal of Political Economy, 58, 1950, 328--46]

Kenneth J. Arrow

excerpt from `Justice as Fairness', in A Theory of Justice, chapter 1, Oxford: Oxford University Press, 3--22

John Rawls

`Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility', Journal of Political Economy, LXIII (4), August, 309--21

John C. Harsanyi

`The Impossibility of a Paretian Liberal', Journal of Political Economy, 78 (1), January/February, 152--7

Amartya Sen

`How Liberty Upsets Patterns' and `Sen's Argument', excerpts from Chapter 7 and `Notes', in Anarchy, State, and Utopia, Oxford: Blackwell Publishers, 160--64, 164--6, 345

Robert Nozick

`Social Choice and Individual Liberty' and M.T. Summer, `Discussion', in M.J. Artis and A.R. Nobay (eds), Contemporary Economic Analysis, Papers Presented at the Conference of the Association of University Teachers of Economics April 1977, Volume I, Chapter 8, London: Croom Helm, 342--67, 268--71

Robert Sugden

`Overpopulation and the Quality of Life', in Peter Singer (ed.), Applied Ethics, Chapter X, Oxford: Oxford University Press, 145-64

Derek Parfit

Name Index