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By taking sets of utility functions as a primitive description of agents, we define an ordering over assumptions on utility functions that gauges their implicit measurement requirements. Cardinal and ordinal assumptions constitute two types of measurement requirements, but several standard...
Persistent link: https://www.econbiz.de/10005093943
ethically convincing justification, and that, only if one endorses utilitarianism as a good ethic. Recent work by Llavador …
Persistent link: https://www.econbiz.de/10005196040
criteria are expressed as alternative von Neumann-Morgenstern utility functions for the EO: utilitarianism, Rawlsianism, and an …
Persistent link: https://www.econbiz.de/10005196022
Several authors in the economics literature have referred to Kantian behavior, informally, as a kind of cooperation. We model this notion precisely, and define two kinds of Kantian allocation. An set of strategies by players is Kantian if, informally, no player would advocate that all players...
Persistent link: https://www.econbiz.de/10005463965
and the environment. We reject discounted utilitarianism and adopt, first, the Intergenerational Maximin criterion, and …
Persistent link: https://www.econbiz.de/10005463990
We model an intergenerational society, with a representative agent at each date, who must deplete a renewable resource, from which he derives utility, to produce consumption goods. We adopt the intergenerational lexicographic minimum as the social welfare function. Initially, technological...
Persistent link: https://www.econbiz.de/10005464028
The veil of ignorance has been used often as a tool for recommending what justice requires with respect to the distribution of wealth. We complete Harsanyi’s model of the veil of ignorance by appending information permitting interpersonal comparability of welfare. We show that the...
Persistent link: https://www.econbiz.de/10005464046
We consider abstract exchange mechanisms wherein individuals submit "diversified" offers in m commodities, which are then redistributed to them. Our first result is that if the mechanism satisfies certain natural conditions embodying "fairness" and "convenience" then it admits unique prices, in...
Persistent link: https://www.econbiz.de/10010817223
This forthcoming chapter in the Handbook of Income Distribution (eds., A. Atkinson and F. Bourguignon) summarizes the literature on equality of opportunity. We begin by reviewing the philosophical debate concerning equality since Rawls (sections 1 and 2), present economic algorithms for...
Persistent link: https://www.econbiz.de/10010895632
Mankind must cooperate to reduce GHG emissions to prevent a catastrophic rise in global temperature. How can the necessary costs of reducing GHG emissions be allocated across regions of the world, within the next few generations, and simultaneously address growth expectations and economic...
Persistent link: https://www.econbiz.de/10010895675