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We argue that with interdependent utility functions growth can lead to a decline in total welfare of a society if the gains from growth are sufficiently unequally distributed in the presence of negative externalities, i.e., envy.
Persistent link: https://www.econbiz.de/10005649774
The Clarke pivotal mechanism is inappropriate for nonpecuniary public goods, because the assumption of quasilinear … utility is invalid, and because the mechanism gives disproportionate influence to wealthier voters. But by introducing a … mechanism is `fair' in the sense that the voters in different strata all have equal influence (on average) over the outcome …
Persistent link: https://www.econbiz.de/10009359924
The objective of this discussion paper is to propose an asset-centred analytical framework for (i) mapping the most important redistributive policy tools that shape the distribution of income and income-generating assets (such as human capital and wealth, including land, industrial or financial...
Persistent link: https://www.econbiz.de/10011109126