Showing 51 - 60 of 764,609
This paper characterizes the out-of-equilibrium dynamics of a symmetric, pure exchange economy with two goods and N agents with uniformly distributed preferences and identical endowments. Relaxing the auctioneer assumption, but maintaining a global price rule, sequentially random pairwise...
Persistent link: https://www.econbiz.de/10013007729
We develop a model that combines competitive exchange of private commodities across endogenously formed groups with public good provision and global collective decisions. There is a tension between local and global collective decisions. In particular, we show that group formation and collective...
Persistent link: https://www.econbiz.de/10013047312
This paper surveys and extends some recent contributions on the theory of exploitation as the unequal exchange of … the literature as special cases. It is shown that the notion of exploitation is logically coherent and can be meaningfully … explore the normative foundations of the notion of exploitation. Finally, it is argued that purely distributive approaches to …
Persistent link: https://www.econbiz.de/10010841148
This paper provides a formal dynamic analysis of exploitation, class inequalities and profits. A stylised model of a … existence of exploitation. Second, it is shown that, in a competitive environment, asset inequalities are fundamental for the … emergence of exploitation, but they are not sufficient for its persistence, both in equilibria with accumulation and growth, and …
Persistent link: https://www.econbiz.de/10011927981
We consider the problem of allocating a single infinitely divisible commodity to agents with single-peaked preferences, and establish two properties of the rule that has played the central role in the analysis of this problem, the uniform role. Among the efficient allocations, it selects (1) the...
Persistent link: https://www.econbiz.de/10005503955
This paper presents an infinite-horizon version of intergenerational utilitarianism that is both satisfactorily complete and consistent. By studying discounted utilitarianism as the discount factor tends to one, we obtain a welfare criterion --- limit-discounted utilitarianism --- that combines...
Persistent link: https://www.econbiz.de/10010258772
This paper provides axiomatic descriptions of social welfare relations, defined on infinite streams of utility, that are consistent with the utilitarian criterion on subsets where maximizing aggregate utility has a clear interpretation: the streams, or their differences, are summable. Besides...
Persistent link: https://www.econbiz.de/10010258774
This paper presents an infinite-horizon version of intergenerational utilitarianism. By studying discounted utilitarianism as the discount factor tends to one, we obtain a new welfare criterion: limit-discounted utilitarianism (LDU). We show that LDU meets the standard assumptions of efficiency,...
Persistent link: https://www.econbiz.de/10011855845
Many societies today are experiencing growing inequality in terms of wealth, income, health, education, resources or opportunities, trends that have negative effects upon well-being, trust, and motivation. We investigated whether inequalities –– particularly those perceived as fair ––...
Persistent link: https://www.econbiz.de/10012872244
This paper investigates fair (i.e., envy free and efficient) allocations in an overlapping generations economy without production and with two - period lived agents. We show that there exists a conflict between no-envy and efficiency when all generations have identical preferences. This conflict...
Persistent link: https://www.econbiz.de/10012938330