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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
We study a dynamic model of environmental protection in which the level of pollution is a state variable that strategically links policy making periods. Policymakers are forward looking but politically motivated: they have heterogeneous preferences and do not fully internalize the cost of...
Persistent link: https://www.econbiz.de/10012482565
This paper reviews the literature on governments' motivations for negotiating and joining international trade agreements. I discuss both normative explanations for trade agreements and explanations based on political-economy concerns. Most of the paper focuses on the purpose of multilateral...
Persistent link: https://www.econbiz.de/10012456604
We consider dynamic processes of coalition formation in which a principal bargains sequentially with a group of agents. This problem is at the core of a variety of applications in economics and politics, including a lobbyist seeking to pass a bill, an entrepreneur setting up a start-up, or a...
Persistent link: https://www.econbiz.de/10013191078
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 … principle of horizontal equity may be inconsistent not only with utilitarianism but even with Pareto optimality …
Persistent link: https://www.econbiz.de/10012478424
We show that unemployed individuals maintain significant access to credit. Following job loss, the unconstrained borrow, while the constrained default and delever. Both defaulters and borrowers are using credit to smooth consumption. We quantitatively show that long-term credit relationships and...
Persistent link: https://www.econbiz.de/10012481983
This essay discusses the policy debate concerning optimal taxation and the distribution of income. It begins with a brief overview of trends in income inequality, the leading hypothesis to explain these trends, and the distribution of the tax burden. It then considers the framework that...
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
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