Includes bibliographical references (p. 474-484) and index Includes appendices

1. Introduction -- 2. Pareto Optimality and the Pareto criterion -- 3. The compensation principle and the welfare function -- 4. Producer welfare : the case of the single competitive firm -- 5. Consumer surplus and consumer welfare -- 6. Willingness to pay and consumer welfare -- 7. Factor supply decisions and resource owners -- 8. Aggregation and economic welfare analysis of market oriented policies -- 9. Multimarket analysis and general equilibrium considerations -- 10. The welfare economics of imperfect competition -- 11. Stochastic welfare economics : applications in agricultural policy analysis -- 12. Nonmarket welfare measurement : applications in environmental economics -- 13. Dynamic considerations in cost-benefit analysis : applications in natural resource economics -- 14. Conclusions -- Appendix A. Duality of surpluses in factor and product markets : the case of the single competitive firm -- Appendix B. Welfare measurement for consumers and resource owners -- Appendix C. The role of producer factor fixity and consumer durables in temporal aggregation and intertemporal economic welfare analysis -- Appendix D. Welfare measures for multimarket equilibrium