Chapter 14
General Equilibrium Theory and Welfare Economics
Analyse de l’équilibre partiel
Partial equilibrium analysis is an economic approach used to study the equilibrium condition in a single market or a specific sector, assuming that other ...
Analyse de l’équilibre général
General equilibrium analysis is a fundamental concept in economics. It examines how supply and demand interact simultaneously across multiple markets. ...
Fonction de bien-être social
General equilibrium analysis examines how different markets within an economy interact and adjust to reach a state of balance. However, equilibrium does ...
Inconvénient de la fonction de bien-être social
The Rawlsian social welfare function, introduced by philosopher John Rawls, is a framework in welfare economics that assesses societal well-being by ...
Efficacité au sens de Pareto
Pareto efficiency, also known as Pareto optimality, is a key concept in economics and decision theory that describes the allocation of resources where no ...
Boîte Edgeworth
The Edgeworth Box, introduced by Francis Edgeworth, is a graphical tool used to analyze the efficient allocation of resources between two entities, such ...
Efficacité des échanges : les gains du commerce I
Assessing the efficiency of resource allocations requires an understanding of individual preferences, often represented by indifference curves. These ...
Efficacité des échanges : les gains du commerce II
Exchange efficiency occurs at the tangency point of the two individuals' indifference curves. At this point, the marginal rates of substitution (MRS) for ...
Prix et répartition des biens
The distribution of goods among consumers is primarily shaped by market prices, which act as signals of relative scarcity and value. These prices guide ...
Efficacité d’échange : courbe de contrat de consommation
In an Edgeworth box, the Consumption Contract Curve identifies all Pareto-efficient allocations of goods between two consumers. These allocations are ...
Efficacité d’entrée I
Input efficiency refers to the way productive resources like labor and capital are distributed across industries to maximize overall output. Unlike ...
Efficacité d’entrée II
In any production process, resources such as labor and capital must be allocated efficiently to maximize output. When multiple producers rely on the same ...
Efficacité d’entrée III
When the isoquants of two producers are tangential, they have the same Marginal Rate of Technical Substitution (MRTS) at that point. The MRTS describes ...
Efficacité des intrants : courbe du contrat de production
The production contract curve represents a set of Pareto-efficient allocations of inputs—such as capital and labor—between two producers when the ...
Dérivation de la frontière des possibilités de production
The Edgeworth Box illustrates all possible ways to allocate a fixed amount of labor and capital between two firms—one producing wheat and the other ...
Efficacité de sortie
Output efficiency guarantees that an economy allocates resources effectively to produce goods and services that reflect consumer preferences. It ...
Efficacité de sortie : MRT
The Marginal Rate of Transformation (MRT) is a key concept in understanding output efficiency. It measures the rate at which resources must be reallocated ...
Efficacité de sortie : Atteindre l’efficacité de sortie
Output efficiency happens when resources are used in a way that balances what people want with how goods are produced. This means the marginal rate of ...
Premier théorème du bien-être I
The First Welfare Theorem explains how resources are allocated efficiently in perfectly competitive markets. It states that in these markets, ...
Premier théorème du bien-être social II
Markets don’t always work perfectly. In theory, they should allocate resources efficiently, but real-world problems often get in the way. One major ...
Deuxième théorème du bien-être
The Second Welfare Theorem states that any Pareto-efficient allocation can be reached with proper redistribution. It suggests that an equitable initial ...
Transferts forfaitaires
Lump-sum transfers help redistribute wealth without altering people’s work or consumption choices. Unlike taxes or subsidies, which change behavior by ...
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