Download PDF by Marc Fleurbaey: A Theory of Fairness and Social Welfare (Econometric Society

By Marc Fleurbaey

ISBN-10: 0521715342

ISBN-13: 9780521715348

ISBN-10: 0521887429

ISBN-13: 9780521887427

The definition and dimension of social welfare were a vexed factor for the earlier century. This publication makes a positive, simply acceptable inspiration and indicates easy methods to overview the commercial scenario of a society in a fashion that provides precedence to the worse-off and that respects each one individual's personal tastes over his or her personal intake, paintings, rest, and so forth. This technique resonates with the present challenge to head "beyond the GDP" within the dimension of social development. in comparison to technical experiences in welfare economics, this ebook emphasizes confident effects instead of paradoxes and impossibilities, and exhibits how you can commence from easy ideas of potency and equity and prove with concrete reviews of guidelines. in comparison to extra philosophical remedies of social justice, this publication is extra targeted concerning the definition of social welfare and reaches conclusions approximately concrete regulations and associations merely after a rigorous derivation from sincerely said rules.

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4 Dominance with respect to U For all E = (RN , ) ∈ D, and zN , zN ∈ XN , zN R(E) zN ⇐⇒ ∀u ∈ U, u(zi ) ≥ i∈N u(zi ). i∈N An immediate consequence of this definition is that the resulting ordering will be partial. In the one-dimensional context, it coincides with the generalized Lorenz criterion stated by Shorrocks (1983) when U is the set of increasing concave functions. Another major difference from our approach is the fact that the same index is used to evaluate the bundle of all the agents, whereas we take as a starting point that individuals may have different preferences and that these preferences should be respected.

11 Not many of the SOFs we define and study in this book can be represented by Bergson–Samuelson functions, but this is only because they involve the leximin criterion, which is not representable by a function. 2 is representable by a Bergson–Samuelson social welfare function, with W as the min function, and, in E = (RN , ) ∈ D, ui (zi ) = u (zi , Ri ). In this light, our work can be viewed as a contribution to the Bergson–Samuelson tradition. The relationship between our approach and the Bergson–Samuelson tradition is more than a formal one.

More precisely, fixing N and , there is an individual i ∈ N such N that for all RN ∈ RN , all zN , zN ∈ R+ \ {0} , zi Pi zi ⇒ zN P(E) zN . This is, obviously, in contradiction with resource equality, as this agent’s monotonic preferences will then be satisfied at the expense of all the others. 12 A Contribution to Welfare Economics The literature on Arrovian social choice in economic domains (that is, domains in which trade or production opportunities are explicitly modeled and preferences are typically restricted to be self-centered and satisfy conditions of continuity, monotonicity, and convexity) has focused on identifying the domains of economies over which Arrow’s negative result is reproduced.

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A Theory of Fairness and Social Welfare (Econometric Society Monographs) by Marc Fleurbaey


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