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A long-standing challenge for welfare economics is to develop welfare criteria that can be applied to allocations with different population levels. Such a criterion is essential to resolve the optimal population problem, i.e., the tradeoff between population size and the welfare of each person...
Persistent link: https://www.econbiz.de/10012496107
of benefit-cost analysis, utilitarianism, and prioritarianism in evaluating COVID-19-related policies. The relative … less aggressive control policies. Utilitarianism and prioritarianism, in that order, increasingly favor income … likely than utilitarianism or benefit-cost analysis to target young and socioeconomically disadvantaged individuals in the …
Persistent link: https://www.econbiz.de/10012496155
four simple models of fairness -utilitarianism, race-blind rules (RBRs), racial in-group bias, and belief …-based utilitarianism (BBU)-- and show that the latter two are inconsistent with major patterns in our data. Instead, we argue that a two …
Persistent link: https://www.econbiz.de/10013334453
In settings with uncertainty, tension exists between ex ante and ex post notions of fairness (e.g., equal opportunity versus equal outcomes). In a laboratory experiment, the most common behavioral pattern is for subjects to select the ex ante fair alternative ex ante, and switch to the ex post...
Persistent link: https://www.econbiz.de/10012480908
individuals' moral intuitions. The essay then explores an alternative normative framework, dubbed the Just Deserts Theory …
Persistent link: https://www.econbiz.de/10012462806
believe utilitarianism to be insufficiently egalitarian. Second, utilitarianism does not give independent weight to other …
Persistent link: https://www.econbiz.de/10012473938
This paper establishes that, far from being able to derive the principle of horizontal equity from utilitarianism, the … principle is actually in- consistent with utilitarianism in a variety of circumstances. We derive conditions under which (a) it … imposed on a set of otherwise identical individuals (ex ante randomization). The implications for optimal tax theory are …
Persistent link: https://www.econbiz.de/10012478424
How much discretion should the monetary authority have in setting its policy? This question is analyzed in an economy with an agreed-upon social welfare function that depends on the randomly fluctuating state of the economy. The monetary authority has private information about that state. In the...
Persistent link: https://www.econbiz.de/10012468585
The marginal social value of income redistribution is understood to depend on both the concavity of individuals' utility functions and the concavity of the social welfare function. In the pertinent literatures, notably on optimal income taxation and on normative inequality measurement, it seems...
Persistent link: https://www.econbiz.de/10012468707
Recent work on collective intertemporal choice suggests that non-dictatorial social preferences are generically time inconsistent. We argue that this claim conflates time consistency with two distinct properties of preferences: stationarity and time invariance. While the conjunction of time...
Persistent link: https://www.econbiz.de/10012456155