account factors other than individual welfare is Pareto-inefficient; in particular, they argue at length that notions of … fairness - insofar as they do not directly contribute to individual welfare - should be eschewed as a basis for policy … pluralistic or majoritarian decisionmaking are prone to welfare-inefficient outcomes. Judicial intervention could be seen to …

leading to higher aggregate output and total welfare compared to a strictly meritocratic system. Less skilled workers benefit …

welfare in human decision making. At the same time, models of inequality averse agents fail to explain the experimental data … of individuals who reduce their payoff below a fair split in order to maximize social welfare. This paper presents a … fairness if welfare is thereby gained. It also establishes a unique link between altruism and interest in social welfare in the …

formally that fairness can increase innovation. Welfare improves both in the absolute sense of enabling new projects and in the …

deterministic assignment in its support is Pareto efficient. We show that ordinal efficiency implies robust ex-post Pareto … efficiency while the reverse does not hold. We know that strategy-proof and ordinal efficient mechanisms satisfy neither equal … weakening ordinal efficiency to robust ex-post Pareto efficiency …

develop a risk-based optimization method that achieves equity and efficiency. I applied this method to 4405 electric … that maximize health benefits while reducing cross-state transport of air pollutants. A scenario considering only efficiency … multiple policy goals, including both equity and efficiency …

of justice. In this reconceptualization, equality appears in two forms: On the one hand, specific equal-treatment rules … can be derived from the efficiency goal. Law and economics thus offers a novel justification of such rules and their …, normative economics offers the social welfare function as an analytical tool. From the economic perspective, distributional …

welfare properties of the mechanism, interpreting noise as a policy instrument, and we use logit dynamic simulations to …

efficiency and equity of the final outcome. Furthermore, these tendencies are stronger when the two players have conflicting …

trucks cartel (1997-2011). Overall, we estimate a net welfare loss of approximately €0.7 bn. and an overcharge below 1% (€1 …