This paper provides an axiomatization of a cardinal welfare measure for the evaluation of income and opportunity. Following Roemer's (1998) formulation of equality of opportunity, we divide the society in n effort groups consisting of subsets of agents who exert a comparable degree of effort. We...

<Para ID="Par1">This paper proposes a mechanism to overcome the possibility that political parties may block the nomination of High-Court judges when the Parliament is involved in their nomination and their mandate expires on a fixed date. This possibility arises when the default option is that the judge whose...</para>

This paper analyzes the evaluation of the relative performance of a set of groups when their outcomes are defined in terms of categorical data and the groups’ members are heterogeneous. This type of problem has been dealt with in Herrero and Villar (2013) for the case of a homogeneous...

This paper reports the results of an experiment in which probabilistic insurance, as proposed by Kahneman and Tversky (1979), is compared both with full insurance and no insurance. The experimental results conform to the intuitive prediction that risk-averse agents who are indifferent between...