This chapter discusses welfare economics for telecommunications. Welfare economics considers resource allocation at the level of society as a whole and investigates whether, at this level, a different allocation of resources would bring about a greater aggregate benefit. Since utility is a subjective measure, the total benefit itself cannot be measured. This does not matter as long as there are theoretical and practical ways of judging whether the total may be increased with alternative arrangements.

Inspec keywords: economics; resource allocation; telecommunication networks

Other keywords: resource allocation; welfare economic; telecommunication policy; world telecommunication economic

Subjects: Telecommunication applications