Following a long-standing philosophical tradition, impartiality is a distinctive and determining feature of moral judgments, especially in matters of distributive justice. This broad ethical tradition was revived in welfare economics by Vickrey, and above all, Harsanyi, under the form of the...

When rational but myopic agents negotiate over the exchange of indivisible resources, any restriction to the negotiation protocol may prevent the system from converging to a socially optimal allocation in the general case. This paper addresses this issue by analysing how the confinement to...

This paper examines the history of the neoclassical theory of consumer demand from 1871 to 1971 by bringing into play the knowledge theory of the Marburg School, a Neo-Kantian philosophical movement. The work aims to show the usefulness of a Marburg-inspired epistemology in rationalizing the...

Do participants make decisions consistent with risk-value tradeoffs? One hundred and five undergraduate business students made risk and preference judgments about lottery pairs in a series of paper surveys. The data indicate that the participants’ responses were generally consistent with the...

Executives are searching for ways to deliver consistent improvements in productivity and profitability while addressing economic realities. One initiative that has been discovered by many organizations is the integration a quality process into their or ganization that is based on the Malcolm...

The conventional parameterizations of cumulative prospect theory do not explain the St. Petersburg paradox. To do so, the power coefficient of an individual's utility function must be lower than the power coefficient of an individual's probability weighting function.

When rational but myopic agents negotiate over the exchange of indivisible resources, any restriction to the negotiation protocol may prevent the system from converging to a socially optimal allocation in the general case. This paper addresses this issue by analysing how the confinement to...