Natural Disaster Insurance and the Equity-Efficiency Trade-Off
نویسندگان
چکیده
منابع مشابه
The Equity/Efficiency Trade-off in Retrospect
Writing in 1975, Arthur Okun is generally credited with popularizing the idea of a “great tradeoff" between equity and efficiency. Indeed, a generation of economists has been brought up thinking that in the allocation of scarce resources to competing ends, the tradeoff between “equity” and “efficiency” is just another one of the many tough choices that economically rational individuals have to ...
متن کاملImproving the Equity-Efficiency Trade-Off: Mandatory Savings Accounts for Social Insurance
In the modern welfare state a substantial part of an individual’s tax bill is transferred back to the same individual taxpayer in the form of social transfers. This provides a rationale for financing part of social insurance through mandatory savings accounts. We analyze the behavioral and welfare effects of compulsory savings accounts in an intertemporal model with uncertainty, endogenous invo...
متن کاملPoverty Traps and Development: The Equity-Efficiency Trade-Off Revisited
The paper discusses some core reasons why poverty remains widespread in many developing countries: market failures combine with asset inequalities to result in poverty persistence, and often poverty traps from which the poor may not be able to emerge, even in a context of aggregate economic growth. As examples the paper discusses some theoretical implications and empirical evidence for three co...
متن کاملChoice-Consistent Resolutions of the Efficiency-Equity Trade-Off
In a standard framework of choice theory, we formulate two contrasting principles for social choice under the efficiency-equity trade-off. The equity-first principle states that we should select from equitable allocations if any, but if the equity criterion is not at all effective for selection either because all the available allocations are equitable or because no allocation is equitable, we ...
متن کاملEquity and Efficiency in Unemployment Insurance
This paper is concerned with equity and efficiency in social security. If social security, ormore specifically unemployment insurance, leads to losses in employment and output, menwhy is it such a widely observed phenomenon? The first rationale for social security isutility interdependence or a preference for equality, combined with the public goodcharacter of income redistribut...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
ژورنال
عنوان ژورنال: Journal of Risk & Insurance
سال: 2008
ISSN: 0022-4367,1539-6975
DOI: 10.1111/j.1539-6975.2007.00246.x