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Combining Rights and Welfarism: A New Approach to Intertemporal Evaluation of Social Alternatives
Long, Ngo Van; Martinet, Vincent - CESifo - 2012
We propose a new criterion which reflects both the concern for welfare (utility) and the concern for rights in the evaluation of economic development paths. The concern for rights is captured by a pre-ordering over combinations of thresholds (floors or ceilings on various quantitative...
Persistent link: https://www.econbiz.de/10009651182
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The Marginal Utility of Income
Layard, Richard; Mayraz, Guy; Nickell, Stephen J. - Forschungsbasierte Infrastruktureinrichtung … - 2007
In normative public economics it is crucial to know how fast the marginal utility of income declines as income …, using a number of assumptions, we are able to estimate the elasticity of marginal utility with respect to income. We obtain …
Persistent link: https://www.econbiz.de/10005018703