Description

This second part of a two-volume set continues to describe economists’ efforts to quantify the social decisions people necessarily make and the philosophies that those choices define.¬† Contributors draw on lessons from¬†philosophy, history, and other disciplines, but they ultimately use editor Kenneth Arrow’s seminal work on social choice as a jumping-off point for discussing ways to incentivize, punish, and distribute¬†goods.

Develops many subjects from Volume 1 (2002) while introducing new themes in welfare economics and social choice theory
Features four sections: Foundations, Developments of the Basic Arrovian Schemes, Fairness and Rights, and Voting and Manipulation
Appeals to readers who seek introductions to writings on human well-being and collective decision-making
Presents a spectrum of material, from initial insights and basic functions to important variations on basic schemes