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The fairness of inequality due to risk and effort choices
Sterba, Maj-Britt - 2022
Three determining factors for economic inequality are self-chosen effort, self-chosen risk, and external circumstances. The fairness people assign to inequalities due to effort and external circumstances is widely studied. Insights on the fairness of inequalities due to self-chosen effort and...
Persistent link: https://www.econbiz.de/10013252893
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Justice under uncertainty
Cettolin, Elena; Riedl, Arno - 2013
An important element for the public support of policies is their perceived justice. At the same time most policy … choices have uncertain outcomes. We report the results of a first experiment investigating just allocations of resources when … their own risk preferences. The observed allocations are consistent with four different views of justice under uncertainty. …
Persistent link: https://www.econbiz.de/10009766681
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Justice under Uncertainty
Cettolin, Elena - 2016
perceived justice. Surprisingly little is known about how people perceive justice under uncertainty. We theoretically and … experimentally explore just allocations of resources when recipients are exposed to certainty or uncertainty. In the experiment … well organized by four different theoretical views of justice under uncertainty, indicating that uninvolved participants …
Persistent link: https://www.econbiz.de/10013006995
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Justice Under Uncertainty
Cettolin, Elena; Riedl, Arno - 2021
An important element for the public support of policies is their perceived justice. At the same time most policy … choices have uncertain outcomes. We report the results of a first experiment investigating just allocations of resources when … their own risk preferences. The observed allocations are consistent with four different views of justice under uncertainty …
Persistent link: https://www.econbiz.de/10013315740
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Does payoff equity facilitate coordination? : a test of Schelling's conjecture
López-Pérez, Raúl; Pintér, Ágnes; Kiss, Hubert J. - 2013
Starting from Schelling (1960), several game theorists have conjectured that payoff equity might facilitate coordination in normal-form games with multiple equilibria - the more equitable equilibrium might be selected either because fairness makes it focal or because many individuals dislike...
Persistent link: https://www.econbiz.de/10010224794
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Social preferences under risk : minimizing collective risk vs. reducing ex-post inequality
Gaudeul, Alexia - 2016
We refine the understanding of individual preferences across social lotteries, whereby the payoffs of a pair of subjects are exposed to random shocks. We find that aggregate behavior is ex-post and ex-ante inequality averse, but also that there is a wide variety of individual preferences and...
Persistent link: https://www.econbiz.de/10011476573
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Multi-Period Risk Sharing Under Financial Fairness
Bao, Hailong - 2016
We work with a multi-period system where a finite number of agents need to share multiple monetary risks. We look for the solutions that are both Pareto efficient utility-wise and financially fair value-wise. A buffer enables the inter-temporal capital transfer. Expected utility is used to...
Persistent link: https://www.econbiz.de/10013002996
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The ethics of intergenerational risk
Piacquadio, Paolo G. - 2015 - This version August 7, 2015
The paper reexamines the ethics of intergenerational risk. When risk re-solves gradually, earlier decisions cannot depend on the realization of later shocks and, consequently, some inequalities across generations are inevitable. To account for these inequalities, risky intergenerational...
Persistent link: https://www.econbiz.de/10011333646
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Fairness and Risk-Sharing in Transnational Monetary Governance
Viehoff, Juri - 2020
government functions, including some central to the realisation of economic justice. This article advances a theory of “Eurozone … justice” by developing principled answers to two basic questions: First, what do members of monetary unions owe one another in … approach the moral basis of supranational monetary governance, focusing on background justice and equitable risk sharing …
Persistent link: https://www.econbiz.de/10012854597
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Risk Equity
Viscusi, W. Kip - 2012
Risk equity serves as the purported rationale for a wide range of inefficient policy practices, such as the concern that hypothetical individual risks not be too great. This paper proposes an alternative risk equity concept in terms of equitable tradeoffs rather than equity in risk levels....
Persistent link: https://www.econbiz.de/10014037559