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Substantial evidence has accumulated in recent empirical works on the limited ability of the Nash equilibrium to rationalize observed behavior in many classes of games played by experimental subjects. This realization has led to several attempts aimed at finding tractable equilibrium concepts...
Persistent link: https://www.econbiz.de/10008811006
Roemer's (1982, 1988) classical approach and all the crucial insights of exploitation theory are generalised, proving that … positive profits. -- Justice ; Exploitation ; Class ; Convex economies …
Persistent link: https://www.econbiz.de/10003933908
Inequity plays a fundamental role in the evaluation of social welfare in many dimensions.We revisit the concept of inequity, whether across states of world (uncertainty), across individuals (inequality) and across generations (intergenerational equity), using a common framework generalizing the...
Persistent link: https://www.econbiz.de/10011622070
aspects, there is a growing literature on equity and justice. Climate change policy has important dimensions of distributive … justice, both within and across generations, but in this paper we survey only studies on the intragenerational aspect, i …. -- Economics of Climate Change ; Intragenerational Equity ; Distributive Justice …
Persistent link: https://www.econbiz.de/10008798530
Individuals vary considerably in how much they earn during their lifetimes. This study examines the role of the tax-and-transfer system in mitigating such inequalities, which could otherwise lead to disparities in living standards. Utilizing a life-cycle model, we determine that taxes and...
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