Equally-distributed equivalent utility, ex post egalitarianism and utilitarianism
نویسندگان
چکیده
منابع مشابه
Equally-distributed equivalent utility, ex post egalitarianism and utilitarianism
We provide an axiomatization of expected equally-distributed equivalent-utility social welfare functions in the context of Harsanyi’s impartial observer theorem. For this family of social welfare functions, we show what additional axiom is necessary and suffi cient for the observer to exhibit aversion to ex post inequality. We also relate this axiomatization to our axiomatization in a companion...
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In any legal system, one finds numerous rules and practices as well as constitutional provisions which are incompatible with utilitarian considerations. These rules and practices often grant benefits to an individual whose wellbeing is at risk; yet the costs of these benefits to other individuals outweigh the benefits. Thus, for instance, despite the persistent belief of economists that efficie...
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In any legal system, one finds numerous rules, practices, and constitutional provisions that are incompatible with utilitarian considerations. It is not merely utilitarianism that fails to explain a diverse range of rules and practices. Other theories that, like utilitarianism, involve ex ante considerations cannot explain them as well. There are two possible primary explanations for the preval...
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The real options approach is used to explain discounted utility anomalies as artifacts of the optimizing behavior of an individual with standard preferences, who perceives the utility from consumption in the future as uncertain. For this individual, waiting is valuable because uncertainty is revealed over time. The fair price (or compensation) that the individual agrees to pay (or accept) today...
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ژورنال
عنوان ژورنال: Journal of Economic Theory
سال: 2012
ISSN: 0022-0531
DOI: 10.1016/j.jet.2011.04.001