Showing 1 - 10 of 15
Suppose it is possible to make approximate interpersonal comparisons of welfare gains and losses. Thus, if w, x, y, and z are personal psychophysical states (each encoding all ethically relevant information about the physical and mental state of a person), then it sometimes possible to say,...
Persistent link: https://www.econbiz.de/10009226947
`Relative Utilitarianism' (RU) is a version of classical utilitarianism, where each person's utility function is rescaled to range from zero to one. As a voting system, RU is vulnerable to preference exaggeration by strategic voters. The Groves-Clarke Pivotal Mechanism elicits truthful...
Persistent link: https://www.econbiz.de/10005835800
The Clarke Pivotal Voting Mechanism (CPVM) elicits truthful revelation of utility functions by requiring any `pivotal' voter to pay a monetary `Clarke tax'. This neglects wealth effects and gives disproportionate power to rich voters. We propose to replace the `Clarke tax' with a lottery,...
Persistent link: https://www.econbiz.de/10005837534
Some social choice models assume that precise interpersonal comparisons of utility (either ordinal or cardinal) are possible, allowing a rich theory of distributive justice. Other models assume that absolutely no interpersonal comparisons are possible, or even meaningful; hence all...
Persistent link: https://www.econbiz.de/10005103411
This paper provides a review of part of the literature on inequality and social welfare, with a special focus on the Gini index. The paper first presents the extended Gini index used for measuring inequality, as well as the source decomposition of the Gini used to analyze how changes in income...
Persistent link: https://www.econbiz.de/10005619518
This paper provides a review of part of the literature on inequality and social welfare, with a special focus on the Gini index. The paper first presents the extended Gini index used for measuring inequality, as well as the source decomposition of the Gini used to analyze how changes in income...
Persistent link: https://www.econbiz.de/10005620107
ordering which satisfies certain axioms of fairness and consistency; this result is closely analogous to the result of Segal …
Persistent link: https://www.econbiz.de/10005621450
This paper provides a review of part of the literature on inequality and social welfare, with a special focus on the Gini index. The paper first presents the extended Gini index used for measuring inequality, as well as the source decomposition of the Gini used to analyze how changes in income...
Persistent link: https://www.econbiz.de/10005621726
We develop a model of social choice over lotteries, where people's psychological characteristics are mutable, their preferences may be incomplete, and approximate interpersonal comparisons of well-being are possible. Formally, we suppose individual preferences are described by a...
Persistent link: https://www.econbiz.de/10008645099
We propose a mathematical model of `approximate' interpersonal comparisons of well-being, in terms of an incomplete preorder over a space of `psychophysical states'. We argue that this model is consistent with people's intuitions about interpersonal comparisons, intertemporal preferences, and...
Persistent link: https://www.econbiz.de/10008646797