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The public at large, many policymakers, and some economists hold views of social welfare that attach some importance to factors other than individuals' utilities. This note shows that any such non-individualistic notion of social welfare conflicts with the Pareto principle
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The public at large, many policymakers, and some economists hold views of social welfare that attach some importance to factors other than individuals' utilities. This note shows that any such non-individualistic notion of social welfare conflicts with the Pareto principle
Persistent link: https://www.econbiz.de/10013234371
social value judgments and individuals’ risk preferences, the latter raising an empirical question about choices under … uncertainty rather than a matter for ethical reflection. This article offers a simple, explicit decomposition that clarifies the …, it explores how significant uncertainty about future consumption, another central factor in climate policy assessment …
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The marginal social value of income redistribution is understood to depend on both the concavity of individuals' utility functions and the concavity of the social welfare function. In the pertinent literatures, notably on optimal income taxation and on normative inequality measurement, it seems...
Persistent link: https://www.econbiz.de/10012468707
The marginal social value of income redistribution is understood to depend on both the concavity of individuals' utility functions and the concavity of the social welfare function. In the pertinent literatures, notably on optimal income taxation and on normative inequality measurement, it seems...
Persistent link: https://www.econbiz.de/10014074750