| Author: | Hak Choi | ISBN: | 1230002209241 |
| Publisher: | Hak Choi | Publication: | March 12, 2018 |
| Imprint: | Language: | English |
| Author: | Hak Choi |
| ISBN: | 1230002209241 |
| Publisher: | Hak Choi |
| Publication: | March 12, 2018 |
| Imprint: | |
| Language: | English |
What is optimal? It means something maximum or minimum, but of what? Optimal tariff of course does not mean the maximum of tariff. It means the tariff rate corresponding to the maximum of some objective variable. What is the objective variable? Some use social welfare, some use tariff revenue. This volume considers both, but also rejects both.
What is optimal? It means something maximum or minimum, but of what? Optimal tariff of course does not mean the maximum of tariff. It means the tariff rate corresponding to the maximum of some objective variable. What is the objective variable? Some use social welfare, some use tariff revenue. This volume considers both, but also rejects both.
