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This paper presents an infinite-horizon version of intergenerational utilitarianism. By studying discounted … utilitarianism as the discount factor tends to one, we obtain a new welfare criterion: limit-discounted utilitarianism (LDU). We show …
Persistent link: https://www.econbiz.de/10012010018
We study a decision maker (DM) who has preferences over choice problems, which are sets of payoff-allocations between herself and a passive recipient. An example of such a set is the collection of possible allocations in the classic dictator game. The choice of an allocation from the set is...
Persistent link: https://www.econbiz.de/10011599457
We study a decision maker (DM) who has preferences over choice problems, which are sets of payoff-allocations between herself and a passive recipient. An example of such a set is the collection of possible allocations in the classic dictator game. The choice of an allocation from the set is...
Persistent link: https://www.econbiz.de/10008765197
A long Utilitarian tradition has the ideal of equal regard for all individuals, both those now living and those yet to be born. The literature formalizes this ideal as asking for a preference relation on the space of infinite utility streams that is complete, transitive, invariant to finite...
Persistent link: https://www.econbiz.de/10011599387
A long Utilitarian tradition has the ideal of equal regard for all individuals, both those now living and those yet to be born. The literature formalizes this ideal as asking for a preference relation on the space of infinite utility streams that is complete, transitive, invariant to finite...
Persistent link: https://www.econbiz.de/10005515739
Economic disruptions generally create winners and losers. The compensation problem consists of designing a reform of the existing income tax system that offsets the welfare losses of the latter by redistributing the gains of the former. We derive a formula for the compensating tax reform and its...
Persistent link: https://www.econbiz.de/10014536858
A mechanism guarantees a certain welfare level to its agents, if each of them can secure that level against unanimously adversarial others. How high can such a guarantee be, and what type of mechanism achieves it? In the n-person probabilistic voting/bargaining model with p deterministic...
Persistent link: https://www.econbiz.de/10014536908
Sufficientarianism is a prominent approach to distributive justice in political philosophy and in policy analyses. However, it is virtually absent from the formal normative economics literature. We analyse sufficientarianism axiomatically in the context of the allocation of 0-1 normalised...
Persistent link: https://www.econbiz.de/10014536923
We investigate Groves mechanisms for economies where (i) a social outcome specifies a group of winning agents, and (ii) a cost function associates each group with a monetary cost. In particular, we characterize both (i) the class of cost functions for which there are Groves mechanisms such that...
Persistent link: https://www.econbiz.de/10014536965
Matchings in a market may have varying degrees of compromise from efficiency, fairness, and or stability. A distance function allows to quantify such concepts or the (dis)similarity between any two matchings. There are a few attempts to propose such functions, however these are tailored for...
Persistent link: https://www.econbiz.de/10014537003