In a simple model where skills may differ among agents, we propose to giv e them an equal right to the resources, interpreted as including both the technological possibilities and the skill profile. An equal right guarantees to each agent a minimal welfare level which depends only on her...

This paper aims to explain the significant variations in the social contracts which can be observed across nations. It shows in particular how countries with similar technologies and preferences, as well as equally democratic political systems, can sustain very different avrage and marginal tax...

This paper examines the implications for African economies of the possible outcomes from the ongoing agriculture negotiations in the Doha Round. The paper defines scenarios that capture key elements of the modalities negotiations and undertakes simulations using a global dynamic general...

While obesity is a growing problem that entails considerable costs, its causes for individuals are not yet well understood in economic terms. Three explanatory approaches are explored: obesity as a rational decision pursued by the individual, obesity as a problem of too little information and...

The nexus between income and happiness is very much disputed. Many cross-sectional studies seem to be in support of a positive relationship. Yet, the failure of most studies to find a similar link between increases in income through time and happiness in developed countries of the western...

This article provides an introduction to the use of social welfare functions for the comparative evaluation of social alternatives. Three main approaches are considered: Bergson–Samuelson social welfare functions, Arrovian social welfare functions, and Sen's social welfare functionals....

The relationship between inequality and the process of economic development is still controversial. In this paper, besides a short overview of the economic literature, we present selected models used to verify the relationship between growth and inequality. We also make a brief analysis of...

The paper shows that the theory of rational choice should be better understood as a?normative, prescriptive, and not as a?descriptive theory of human behavior. Such an interpretation amounts to claiming that there is a?«normative turn» in economics. This turn means that the majority of...