Abstract

LOPEZ PONTON, Erika. AN EFFICIENCY CRITERION FOR THE CONCEPTION AND EVALUATION OF PUBLIC POLICIES. Rev.econ.inst. [online]. 2008, vol.10, n.18, pp. 149-178. ISSN 0124-5996.

This paper seeks to emphasize the convenience of transactional efficiency, proposed by new institutional economics, in relation to Pareto equilibrium, proposed by neoclassic economics. It argues that transactional efficiency is more appropriate than the neoclassical criteria of efficiency when it is about conception and evaluation of economic policies. The synthesis of theoretical foundation of public intervention and transactional efficiency, and the analysis of three empirical studies, show the convenience of transactional efficiency.

Keywords : transactional efficiency; public policies; neoclassical and institutional theories.