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Harberger's methodology for the measurement of deadweight loss is reformulated in a general equilibrium context with adopting the Allais-Debreu-Diewert approach and is applied to various problems with imperfect markets. We also develop second best project evaluation rules for the same class of economies. Chapter 1 is devoted to the survey of various welfare indicators. We especially discuss the two welfare indicators due to Allais, Debreu, Diewert and Hicks, Boiteux in relation to Bergson-Samuelsonian social welfare function. We first show that these two measures generate a Pareto inclusive ordering across various social states, but they are rarely welfarist, so that both are unsatisfactory as Bergson-Samuelsonian social welfare functions. We next show that second order approximations to the Allais-Debreu-Diewert measure of waste can be computed from local information observable at the equilibrium, whereas second order approximations to the Hicks-Boiteux measure of welfare or to the Bergson -Samuelsonian social welfare function require information on the marginal utilities of income of households, which is unavailable with ordinal utility theory. Finally, we give a diagrammatic exposition of the two measures and their approximations to give an intuitive insight into the economic implications of the two measures. Chapter 2 and Chapter 3 study an economy with public goods. In Chapter 2, we compute an approximate deadweight loss measure for the whole economy when the endogenous choice of public goods by the government is nonoptimal and the government revenue is raised by distortionary taxation by extending the Allais-Debreu-Diewert approach discussed in Chapter 1. The resulting measure of waste is related to indirect tax rates, net marginal benefits of public goods, and the derivatives of aggregate demand and supply functions evaluated at an equilibrium. In Chapter 3, cost-benefit rules for the provision of a public good are derived when there exist tax distortions. We derive the rules as giving sufficient conditions for Pareto improvement, but we also discuss when these rules are necessary conditions for an interior social optimum. When indirect taxes are fully flexible but lump-sum transfers are restricted, we recommend a rule which generalized the cost-benefit rule due to Atkinson and Stern (1974) to a many-consumer economy. When both indirect taxes and lump-sum transfers are flexible, we suggest a rule which is based on Diamond and Mirrlees' (1971) productive efficiency principle. When only lump-sum transfers are variable, we obtain a version of the Harberger (1971)-Bruce-Harris (1982) cost-benefit rules. Chapters 4 and 5 study an economy with increasing returns to scale in production and imperfect competition. In Chapter 4, we discuss a methodology for computing an approximate deadweight loss due to imperfect regulation of monopolistic industries by extending the Allais-Debreu-Diewert approach to incorporate the nonconvex technology. With the assumption of the quasi-con-cavity of production functions and fixed number of firms, we can derive an approximate deadweight loss formula which is related to markup rates of firms, and the derivatives of aggregate demand functions, factor supply and demand functions and the derivatives of marginal cost functions. We also discuss various limitations of our approach and the relation between our work and that of Hotelling (1938). In Chapter 5, we consider cost-benefit rules of a large project applicable in the presence of imperfect competition. We show that the index number approach due to Negishi (1962) and Harris (1978) can be extended to handle situations with imperfect competition. / Arts, Faculty of / Vancouver School of Economics / Graduate

published_or_final_version / Economics / Master / Master of Social Sciences

This study considers the problem of the consumer in light of work presented by classical economists who discussed consumption. Richer assumptions about the tasks of an individual consumer and technology of consumption activities are used to develop a static model of consumer behavior. This model is extended through the introduction of opponent-process theory to develop a dynamic model which includes habit formation. Particular emphasis is placed in Chapter 2 upon the psychological underpinnings of consumption activities and the allocation of time aspect of these activities. It is assumed that a consumption activity is defined as a production function combining commodity and time inputs to produce satisfaction. Chapter 3 presents the framework over which preferences about different activities are defined. Preference relationships are assumed to be rational, transitive, and constant over time and location. In addition, satiation in a particular consumption activity is assumed to exist and the ranking over satiation states is defined. Chapter 4 deals with the behavior of a time and income constrained consumer who seeks to choose an optimal bundle of commodity and time inputs over the ordered activity set. The solution to this problem is characterized by affordable allocation of resources from the highest ranked down to the lowest ranked activity. Comparative statics results associated with this solution are considered for non-labor income, wage rate, and price changes. It is shown that besides the production substitution effects brought about by changes in the wage rate and in commodity prices, the net effect of changes in economic variables is predominantly at the lower end of the preference ordering. Chapter 5 presents both a psychological version of opponent-process theory and an economic interpretation of this theory which is used to describe habit dynamics. Chapter 6 combines the static consumer problem and the dynamic description of activity productions under habit formation to present an extended problem of a dynamic consumer behavior.

Suen Ming-hon. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2001. / Includes bibliographical references (leaves 46-49). / Abstracts in English and Chinese. / Abstract --- p.i / Acknowledgement --- p.iii / Table of Contents --- p.iv / Introduction --- p.1 / Chapter Chapter 1 --- The Benchmark Model --- p.9 / Chapter 1.1 --- The Model --- p.9 / Chapter 1.2 --- Comparative Statics --- p.12 / Chapter 1.3 --- Local Stability --- p.13 / Chapter Chapter 2 --- Long-Run Relationships Between Money and Growth --- p.14 / Chapter 2.1 --- The Money-in-the-Utility-Function (MIUF) Model --- p.15 / Chapter 2.2 --- The Cash-in-Advance (CIA) Model --- p.19 / Chapter 2.2.1 --- The Clower-Lucas Model --- p.20 / Chapter 2.2.2 --- The Stockman Model --- p.22 / Chapter 2.3 --- The Pecuniary Transactions Costs (PTC) Model --- p.26 / Chapter Chapter 3 --- Transitional Dynamics --- p.31 / Chapter 3.1 --- The Money-in-the-Utility-Function (MIUF) Model --- p.31 / Chapter 3.2 --- The Cash-in-Advance (CIA) Model --- p.32 / Chapter 3.2.1 --- The Clower-Lucas Model --- p.32 / Chapter 3.2.2 --- The Stockman Model --- p.33 / Chapter 3.3 --- The Pecuniary Transactions Costs (PTC) Model --- p.34 / Chapter Chapter 4 --- Conclusion --- p.37 / Mathematical Appendix / Chapter A.1 --- The Benchmark Model --- p.39 / Chapter A.2 --- The Money-in-the-Utility-Function (MIUF) Model --- p.39 / Chapter A.3 --- The Cash-in-Advance (CIA) Model --- p.40 / Chapter A.3.1 --- The Clower-Lucas Model --- p.40 / Chapter A.3.2 --- The Stockman Model --- p.41 / Chapter A.4 --- The Pecuniary Transactions Costs (PTC) Model --- p.43 / Table 1 Summary of Findings --- p.45 / Reference --- p.45

Lee Sui Fung. / Thesis (M.Phil.)--Chinese University of Hong Kong, 1999. / Includes bibliographical references (leaves 59-62). / Abstract also in Chinese. / Declaration --- p.i / Acknowledgement --- p.ii / Table of Contents --- p.iii / List of Illustrations --- p.v / Notation --- p.vi / Chapter Chapter 1 --- Introduction / Chapter 1.1. --- Chapter Preview --- p.1 / Chapter 1.2. --- Literature Review --- p.1 / Chapter 1.2.1. --- The Development of Research on Endogenous Growth Model --- p.1 / Chapter 1.2.2. --- The Development of Research on Dependent-Economy Model --- p.3 / Chapter 1.2.3. --- The Development of Research on Capital Accumulation and Economic Growth --- p.4 / Chapter 1.3. --- Thesis Objectives --- p.6 / Chapter 1.4. --- Organization of the Thesis --- p.7 / Chapter 1.5. --- Chapter Summary --- p.8 / Chapter Chapter 2 --- The Endogenous Growth Model / Chapter 2.1. --- Chapter Preview --- p.10 / Chapter 2.2. --- Theoretical Framework --- p.10 / Chapter 2.3. --- Determination of Macroeconomic Equilibrium --- p.16 / Chapter 2.3.1. --- Static Allocation Conditions --- p.17 / Chapter 2.3.2. --- Macrodynamic Equilibrium --- p.18 / Chapter 2.4. --- Chapter Summary --- p.21 / Chapter Chapter 3 --- The Steady-State Equilibrium / Chapter 3.1. --- Chapter Preview --- p.24 / Chapter 3.2. --- Conditions for Steady-State Equilibrium --- p.24 / Chapter 3.2.1. --- Existence and Uniqueness of Balanced Growth Equilibrium --- p.25 / Chapter 3.3. --- Long-Run Adjustment --- p.26 / Chapter 3.4. --- Application of the Model --- p.31 / Chapter 3.4.1. --- Increase in the Costs of Borrowing --- p.31 / Chapter 3.4.2. --- Increase in the Rate of Time Preference --- p.32 / Chapter 3.4.3. --- Increase in Domestic Productivity --- p.33 / Chapter 3.5. --- Chapter Summary --- p.33 / Chapter Chapter 4 --- The Transitional Dynamics / Chapter 4.1. --- Chapter Preview --- p.35 / Chapter 4.2. --- Derivation of Transitional Adjustment Paths --- p.35 / Chapter 4.3. --- Characterisation of the Transitional Dynamics --- p.38 / Chapter 4.3.1. --- Increase in the Costs of Borrowing --- p.41 / Chapter 4.3.2. --- Increase in the Rate of Time Preference --- p.43 / Chapter 4.4. --- Chapter Summary --- p.45 / Chapter Chapter 5 --- Conclusions --- p.46 / Appendix1 --- p.52 / Appendix2 --- p.58 / References --- p.59

Chen, Meichen. / Thesis (M.Phil.)--Chinese University of Hong Kong, 2013. / Includes bibliographical references (leaves 34-37). / Electronic reproduction. Hong Kong : Chinese University of Hong Kong, [2012] System requirements: Adobe Acrobat Reader. Available via World Wide Web. / Abstracts also in Chinese.