| dc.contributor.author | Barnett, William A. | |
| dc.date.accessioned | 2014-03-03T19:51:05Z | |
| dc.date.available | 2014-03-03T19:51:05Z | |
| dc.date.issued | 1973-03-01 | |
| dc.identifier.citation | Barnett, WIlliam A. "The Effects of Bliss on Welfare Economics," Journal of Economic Issues, March 1973. | |
| dc.identifier.uri | http://hdl.handle.net/1808/13150 | |
| dc.description | This is the publisher's version, also available electronically from http://www.mesharpe.com/start.html | |
| dc.description.abstract | This article explores the impact of consumer satiation on the functioning of a private ownership economy free from market imperfections. Kenneth Arrow has proved that consumer satiability has no effect on the Pareto optimality of competitive equilibria; his conclusion is disproved by counter-example and his error is isolated. Arrow's model is corrected and then related to a concept introduced by David Gale. Although the choice of the mainstream paradigm is dictated by Arrow's assumptions, the corrected model provides one basis for illustrating issues raised by radical as well as some liberal economists. | |
| dc.publisher | ME Sharpe | |
| dc.relation.isversionof | http://www.mesharpe.com/start.html | |
| dc.title | The Effects of Consumer Bliss on Welfare Economics | |
| dc.type | Article | |
| kusw.kuauthor | Barnett, William A. | |
| kusw.kudepartment | Economics | |
| dc.identifier.orcid | https://orcid.org/0000-0002-1280-2663 | |
| kusw.oaversion | Scholarly/refereed, publisher version | |
| kusw.oapolicy | This item does not meet KU Open Access policy criteria. | |
| dc.rights.accessrights | openAccess | |
