I estimate CES aggregate production functions for the US, the UK, Japan, Germany, and Spain using data from the EU KLEMS database. I distinguish between three types of capital: information and communication technologies (ICT), intellectual property (IP) capital, and traditional capital. I assume...

This article has examined the operating cost inefficiencies and economies of scale of Tunisian public water services. We have examined the stochastic frontier model and the fixed effects model. Thus, as formulated, the inefficiency term remains in the model and the fixed effect is intended only...

The public at large, many policymakers, and some economists hold views of social welfare that attach some importance to factors other than individuals' utilities. This note shows that any such non-individualistic notion of social welfare conflicts with the Pareto principle

In an influential paper, Kaplow and Shavell (Journal of Political Economy, 2001) propose and prove a proposition that “Any non-welfarist method of policy assessment violates the Pareto principle.” In this paper, I first make a counter example to prove that their proposition is false. I also...