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A soul's view of the optimal population problem
De la Croix, David; Doepke, Matthias - 2021
, reincarnation serves as a metaphor to facilitate the necessary utility comparisons. …
Persistent link: https://www.econbiz.de/10012493350
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"Fair" welfare comparisons with heterogeneous tastes : subjective versus revealed preferences
Akay, Alpaslan; Bargain, Olivier; Jara, H. Xavier - 2017
Multidimensional welfare analysis has recently been revived by money-metric measures based on explicit fairness principles and the respect of individual preferences. To operationalize this approach, preference heterogeneity can be inferred from the observation of individual choices (revealed...
Persistent link: https://www.econbiz.de/10011709621
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Machiavelli versus concave utility functions : should bads be spread out or concentrated?
Frijters, Paul; Krekel, Christian; Ulker, Aydogan - 2020
economic presumption of concave utility rather than Machiavelli's prescript of inflicting all injuries at once. Yet …
Persistent link: https://www.econbiz.de/10012180363
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Beliefs and utility : experimental evidence on preferences for information
Falk, Armin; Zimmermann, Florian - 2016
consumption have direct utility-consequences. This gives rise to informational preferences, i.e., preferences over the timing and …
Persistent link: https://www.econbiz.de/10011528156
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Eliciting utility curvature in time preference
Cheung, Stephen L. - 2019
This paper examines the effects of alternative assumptions regarding the curvature of utility upon estimated discount … the Holt and Laury method for risk. The results demonstrate that utility elicited directly from choice over time is … significantly concave, but far closer to linear than utility elicited under risk. As a result, the effect of adjusting discount …
Persistent link: https://www.econbiz.de/10012062699
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Why praise inequality? : public good provision, income distribution and social welfare
Dasgupta, Indraneel - 2009
We consider a two-person Cournot game of voluntary contributions to a public good with identical individual preferences, and examine equilibrium aggregate welfare under a separable, symmetric and concave social welfare function. Assuming the public good is pure, Itaya, de Meza and Myles (Econ....
Persistent link: https://www.econbiz.de/10003808609
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A social-psychological reconstruction of Amartya Sen's measures of inequality and social welfare
Stark, Oded; Budziński, Wiktor - 2021
The Gini coefficient features prominently in Amartya Sen's 1973 and 1997 seminal work on income inequality and social welfare. We construct the Gini coefficient from socialpsychological building blocks, reformulating it as a ratio between a measure of social stress and aggregate income. We...
Persistent link: https://www.econbiz.de/10012648303
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Turning relative deprivation into a performance incentive device
Stark, Oded; Kosiorowski, Grzegorz - 2021
The inclination of individuals to improve their performance when it lags behind that of others with whom they naturally compare themselves can be harnessed to optimize the individuals' effort in work and study. In a given set of individuals, we characterize each individual by his relative...
Persistent link: https://www.econbiz.de/10012419100
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An economics-based rationale for the Rawlsian social welfare program
Stark, Oded - 2020
We show that a social planner who seeks to allocate a given sum in order to reduce efficiently the social stress of a population, as measured by the aggregate relative deprivation of the population, pursues a disbursement procedure that is identical to the procedure adhered to by a Rawlsian...
Persistent link: https://www.econbiz.de/10012287090
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An adverse social welfare effect of quadruply gainful trade
Stark, Oded; Kosiorowski, Grzegorz - 2020
Acknowledging that individuals dislike having low relative income renders trade less attractive when seen as a technology that integrates two economies by merging separate social spheres into one. We define a "trembling trade" as a situation in which gains from trade are less than losses in...
Persistent link: https://www.econbiz.de/10012295537