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The death of welfare economics has been declared several times. One of the reasons cited for these plural obituaries is that Kenneth Arrow's impossibility theorem, as set out in his path-breaking Social Choice and Individual Values in 1951, has shown that the social welfare function - one of the...
Persistent link: https://www.econbiz.de/10011613819
The death of welfare economics has been declared several times. One of the reasons cited for these plural obituaries is that Kenneth Arrow's impossibility theorem, as set out in his path-breaking Social Choice and Individual Values in 1951, has shown that the social welfare function - one of the...
Persistent link: https://www.econbiz.de/10011610213
Persistent link: https://www.econbiz.de/10011385837
Persistent link: https://www.econbiz.de/10012129542
This paper discusses recent neuroeconomic evidence related to other-regarding behaviors and the decision to trust in other people's other-regarding behavior. This evidence supports the view that people derive nonpecuniary utility (i) from mutual cooperation in social dilemma (SD) games and (ii)...
Persistent link: https://www.econbiz.de/10003070042
Well-Being and Fair Distribution provides a rigorous and comprehensive defense of the “social welfare function” as a tool for evaluating governmental policies. In particular, it argues for a “prioritarian” social welfare function: one that gives greater weight to well-being changes...
Persistent link: https://www.econbiz.de/10014174416
We experimentally examine how the incentive to defect in a social dilemma affects conditional cooperation. In our first study we conduct online experiments in which subjects play eight Sequential Prisoner’s Dilemma games with payoffs systematically varied across games. We find that few second...
Persistent link: https://www.econbiz.de/10014077010
We experimentally examine how the incentive to defect in a social dilemma affects conditional cooperation. In our first study we conduct online experiments in which subjects play eight Sequential Prisoner's Dilemma games with payoffs systematically varied across games. We find that few second...
Persistent link: https://www.econbiz.de/10014077582
In their recent seminal work, Kaplow and Shavell demonstrate that any metric for policy evaluation that takes into 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...
Persistent link: https://www.econbiz.de/10014058485
When income inequality increases when average income levels increase, rises in average income levels might result in inequality costs. This paper develops marginal social welfare measures that account for the possibility that income inequality changes when average income levels change....
Persistent link: https://www.econbiz.de/10014233407