Adelaide Research & Scholarship
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https://hdl.handle.net/2440/58919
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| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Pincus, J. | - |
| dc.date.issued | 2009 | - |
| dc.identifier.citation | The Australian Economic Review, 2009; 42(2):121-130 | - |
| dc.identifier.issn | 0004-9018 | - |
| dc.identifier.issn | 1467-8462 | - |
| dc.identifier.uri | http://hdl.handle.net/2440/58919 | - |
| dc.description | This is a revised version of a paper that was presented as the Inaugural Department of Economics – Melbourne Institute Lecture on Public Policy on 7 October 2008. It was written whilstworking as aVisiting Professor inEconomics at the University of Adelaide and as a Senior Adviser at Concept Economics. The views expressed here are personal, not institutional. Lisa Gropp and Veronica Cosgrove made helpful comments on earlier drafts. | - |
| dc.description.abstract | <jats:title>Abstract</jats:title><jats:p> <jats:italic>For economists, the main test of a microeconomic policy change is its effect on efficiency: gains minus losses, equally weighted. However, it is standard economics that individuals value losses more than gains. Moreover, imposing large, uncompensated and uninsurable policy‐induced losses would be widely regarded as unfair, when they are merely collateral damage from policy action. The article argues the case for adjusting the calculation of efficiency to take account of this ‘unfairness’ and discusses how it could be done. The context is the relatively recent acceptance in Australia of competition, if planned and regulated, as being generally socially beneficial.</jats:italic> </jats:p> | - |
| dc.description.statementofresponsibility | Jonathan Pincus | - |
| dc.language.iso | en | - |
| dc.publisher | Blackwell Publishers Ltd | - |
| dc.rights | © 2009 The University of Melbourne, Melbourne Institute of Applied Economic and Social Research | - |
| dc.source.uri | http://dx.doi.org/10.1111/j.1467-8462.2009.00547.x | - |
| dc.title | Reflection on Microeconomic Policy Frameworks in Australia, and a Suggestion about Fairness | - |
| dc.type | Journal article | - |
| dc.identifier.doi | 10.1111/j.1467-8462.2009.00547.x | - |
| pubs.publication-status | Published | - |
| Appears in Collections: | Aurora harvest 5 Economics publications | |
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