Your email address will be used for Wildy’s marketing materials only. We will never give your email address to any third party. You may opt out at any time by following the unsubscribe link included in every email.
Special Discounts for Newly Called & Students
Browse Secondhand Online
Christmas and New Year Opening Hours 2018/19
In this text Zerbe introduces a way to think about the concept of economic efficiency that is both consistent with its historical derivation and more useful than contemporary concepts. He establishes an expanded version of Kaldor-Hicks efficiency as an axiomatic system that performs the tasks of: allowing an expanded range for efficiency analysis; and estabilshing the conditions under which economists can reasonably say that some state of the world is inefficient. He then applies the analysis to a number of hard and interesting cases, including the economics of duelling, cannibalism and rape. He develops a theory of common law efficiency and indicates the circumstances under which a common law will be inefficient.