Showing 1 - 10 of 1,653
The paper reexamines the welfare economics of intergenerational risk. Risk and its resolution over time are modeled as a decision tree: in each period, the consumption of the current one-period living generation is to be traded-off against uncertain benefits of future generations; as time...
Persistent link: https://www.econbiz.de/10013030316
utilitarianism (DU). DU is controversial, both due to the conditions through which it is justified and due to its consequences for … measures to justify their present costs. In this paper, we propose sustainable discounted utilitarianism (SDU) as an … alternative principle for evaluation of climate policy. Unlike undiscounted utilitarianism, which always assigns zero relative …
Persistent link: https://www.econbiz.de/10013315976
utilitarian justice concept appended with a safety net for the poorest. Another result is that people are willing to accept income …
Persistent link: https://www.econbiz.de/10013316175
critiques to utilitarianism by satisfying the following three fairness axioms: possibility of trade-offs sets a limit to the …
Persistent link: https://www.econbiz.de/10012996204
There is a striking difference in income inequality and redistributive policies between the United States and Scandinavia. To study whether there is a corresponding cross-country difference in social preferences, we conducted the first large-scale international social preference experiment, with...
Persistent link: https://www.econbiz.de/10012963592
We study a situation where two players first choose a sharing rule, then invest into a joint production process, and then split joint benefits. We investigate how social preferences determine investments. In our experiment we find that even the materially disadvantaged player cares more for...
Persistent link: https://www.econbiz.de/10013316263
This paper uses data from a firm with team production to investigate the association between workers' productivity, risk aversion and preferred bonus scheme (team or individual). Standard economics make a strong prediction in this case. Workers persistently producing above the team average...
Persistent link: https://www.econbiz.de/10013117787
A fat and a healthy good provide immediate gratification, and cause health costs or benefits in the long run, which are misperceived. Additionally, the fat good (healthy good) increases (decreases) health care costs by increasing (decreasing) the probability of suffering from a chronic disease...
Persistent link: https://www.econbiz.de/10013013697
planner's von Neumann-Morgenstern preference. We start from Harsanyi's axiomatization of utilitarianism, and ask under which … Mertens used to axiomatize relative utilitarianism. We simplify the axioms, provide a much simpler and more transparent …
Persistent link: https://www.econbiz.de/10012947990
We propose and axiomatize probability adjusted rank-discounted critical-level generalized utilitarianism (PARDCLU). We … thus generalize rank-discounted utilitarianism (RDU) (proposed by Zuber and Asheim, 2012) to variable population and risky … other policy issues with long-run consequences. We illustrate how PARDCLU yields rank-dependent expected utilitarianism …
Persistent link: https://www.econbiz.de/10013315618