Seminar paper from the year 2016 in the subject Economy - Health Economics, language: English, abstract: This is a collective analysis of five major economic theories of welfare. Here each of the theories is explained separately in a brief manner. The diagrammatic representation is also used here to understand the concepts easily. Further an evaluation of each theory has also been provided along with the discussion. This note includes the following five welfare economic theories. 1) Pareto Optimality; 2) Kaldor-Hicks Compensation Criterion; 3) Social Welfare Function of Bergson and Samuelsson; 4) Scitovisky Criterion; and 5) Amartya Sen's Theory of Welfare.


IRSHAD. CV has successfully completed under graduation in Economics from the University of Calicut in 2015. He has special interest in developmental issues, public finance, education and banking. He has been publishing articles on various topics of Economics, banking, Indian history and education since February 2013.