Nash's characterization of his famous bargaining solution has long faced the objection of being welfarist: a bargaining situation is captured by a utility possibility set and a utility vector prevailing in case of disagreement, with no further information regarding the underlying economic...

This paper presents the different utilitarian approaches to ethics. It stresses the influence of utilitarianism in economics in general and in welfare economics in particular. The key idea of the paper to explain the evolution from classical utilitarianism to preferences utilitarianism and...

Concerning theories of justice, law and economics seem to advance along divergent lines: whereas the jurist does not argue any longer for what is “just” nor does he cares about the aim of the law, the economist again gives attention to questions of justice, which is one important subject of...

Political decision-makers face increasing demands to justify their actions with respect to multiple normative objectives or values. Here, we provide a general philosophical-economic clarification of the discussion of value pluralism, value-efficiency (i.e. efficiency with respect to values) and...