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Re-thinking market failure in the light of the imperfect state

Fabella, Raul V.; Fabella, Vigile Marie - 2015

net welfare metric which explicitly accounts for transactions cost of intervention as efficiency criterion. The new …

Persistent link: https://www.econbiz.de/10010530527

Evaluations of infinite utility streams: Pareto-efficient and egalitarian axiomatics

Alcantud, José Carlos R.; García-Sanz, María D. - Volkswirtschaftliche Fakultät, … - 2010

problem, that concerns social welfare functions. Firstly we examine efficiency and strengthened forms of Hammond Equity for …, 2006) and Alcantud and Garcia- Sanz (Economics Letters, 2010). Secondly, we analyze the possibility of combining Pareto-efficiency … and the spirit of the Hammond Equity principle for both specfications of the feasible utilities. Here the case study is …

Persistent link: https://www.econbiz.de/10008561158

The compromise efficiency vs. egalitarianism among generations with an infinite horizon

Alcantud, José Carlos R. - Volkswirtschaftliche Fakultät, … - 2010

generations can be respected if we intend to be "ethical"? Here "ethical" refers to verifying adequate equity axioms, and case …-studies cover: extensions of restricted non-substitution; or Hammond Equity-related principles; together with the usual Anonymity …

Persistent link: https://www.econbiz.de/10008506107

Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto

Alcantud, José Carlos R. - In: Journal of Economic Theory 147 (2012) 1, pp. 353-363

prove that the Hammond Equity postulate and other variations of it like the Pigou–Dalton transfer principle are incompatible … with positive responsiveness to welfare improvements by every generation. The case of Hammond Equity for the Future is …

Persistent link: https://www.econbiz.de/10010582588

Inequality averse criteria for evaluating infinite utility streams: The impossibility of Weak Pareto

Alcantud, José Carlos R. - Volkswirtschaftliche Fakultät, … - 2010

prove that the Hammond Equity postulate and other variations of it like the Pigou-Dalton transfer principle are incompatible … with positive responsiveness to welfare improvements by every generation. The case of Hammond Equity for the Future is …

Persistent link: https://www.econbiz.de/10008765931

Inverse Stochastic Dominance and Yaari's Model.

Chateauneuf, A.; Wilthien, P.-H. - Centre de recherche de mathématiques et économie … - 1999

In this paper, we show that the third inverse stochastic dominances introduced by Muliere and Scarsini (1989) is nicely connected with the Yaari's dual model. We show especially that the third inverse stochastic dominance is closely linked with the non-negativity of third derivative of the...

Persistent link: https://www.econbiz.de/10005630676

Downside-Mindedness.

Wilthien, P.-H. - Centre de recherche de mathématiques et économie … - 1999

The initial goal of this paper was to study how to characterize the behavior of an EU maximiser decision maler according to the sign of u[p], p-th derivative of his utility function. The answer is well-known for u', u'', has been studied for u''' (Menezes, Geiss ant Tressler, Kimball), u''''...

Persistent link: https://www.econbiz.de/10005630699

The Principle of Strong Kiminishing Transfer.

Chateauneuf, A.; Gajdos, T.; Wilthien, P.-H. - Centre de recherche de mathématiques et économie … - 1999

In a seminal paper, Kolm [14] introduces the principle diminishing transfer. This principle requires that a transfert from an individual with income x to one with income x - D(D 0) has a greater impact on social welfare the lower x is. On the other hand Mehran [15] and Kakwani [11] introduced...

Persistent link: https://www.econbiz.de/10005630730

Endogenous community formation and collective provision: A procedurally fair mechanism

Güth, Werner - 2013

A group of actors, individuals or firms, can engage in collectively providing projects which may be costly or generating revenues and which may benefit some and harm others. Based on requirements of procedural fairness (Güth and Kliemt, 2013), we derive a bidding mechanism determining...

Persistent link: https://www.econbiz.de/10010323894

Secure implementation in economies with indivisible objects and money

Fujinaka, Yuji; Wakayama, Takuma - 2007

This paper studies the application of the notion of secure implementation (Cason, Saijo, Sjöström, and Yamato, 2006; Saijo, Sjöström, and Yamato, 2007) to the problem of allocating indivisible objects with monetary transfers. We propose a new domain-richness condition, termed as minimal...

Persistent link: https://www.econbiz.de/10010332239