One of the basic issues of accounting is to augment, or extend the conventional net national product measure so as to obtain a better indicator of welfare. This book extends the usual analysis on social accounting by taking into account technological change, externalities and uncertainty. It analyzes welfare measurement, sustainability and green accounting within general equilibrium models. A large part of the book is devoted to welfare measurement in the presence of technological change and external effects which complicate green accounting to a considerable extent. In addition to...

This book cleverly integrates the research on welfare measurement and social accounting in imperfect market economies. In their previously acclaimed volume, Welfare Measurement, Sustainability and Green National Accounting, the authors focused on the external effects associated with environmental damage and analysed their role in the context of social accounting. This book adopts a much broader perspective by analysing a wide spectrum of resource allocation problems of real-world market economies. The authors' aim is to derive exact welfare measures in imperfect market economies and compare...