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Assessing risky social situations

Fleurbaey, Marc (2010) Assessing risky social situations. Journal of Political Economy, 118 (4). pp. 649-680. ISSN 0022-3808

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Identification Number: 10.1086/656513

Abstract

This paper reexamines the welfare economics of risk. It singles out a class of criteria, the “expected equally distributed equivalent,” as the unique class that avoids serious drawbacks of existing approaches. Such criteria behave like ex post criteria when the final statistical distribution of well-being is known ex ante and like ex ante criteria when risk generates no inequality. The paper also provides a new result on the tension between inequality aversion and respect of individual ex ante preferences, in the vein of Harsanyi’s aggregation theorem.

Item Type: Article
Official URL: http://www.press.uchicago.edu/ucp/journals/journal...
Additional Information: © 2010 The University of Chicago
Divisions: Philosophy, Logic and Scientific Method
Subjects: H Social Sciences > H Social Sciences (General)
Sets: Departments > Philosophy, Logic and Scientific Method
Date Deposited: 27 Oct 2014 13:36
Last Modified: 20 Jun 2020 01:27
URI: http://eprints.lse.ac.uk/id/eprint/59957

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