Fair social decision under uncertainty and belief disagreements
نویسندگان
چکیده
منابع مشابه
Belief and Preference in Decision Under Uncertainty ∗
Most decisions in life are gambles. Should I speed up or slow down as I approach the yellow traffic light ahead? Should I invest in the stock market or in treasury bills? Should I undergo surgery or radiation therapy to treat my tumor? From mundane choices rendered with scarcely a moment’s reflection to urgent decisions founded on careful deliberation, we seldom know in advance and with certain...
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Belief disagreements have been suggested as a major contributing factor to the recent subprime mortgage crisis. This paper theoretically evaluates this hypothesis. I assume that optimists have limited wealth and take on leverage in order to take positions in line with their beliefs. To have a signi cant e¤ect on asset prices, they need to borrow from traders with pessimistic beliefs using loans...
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It is often necessary to divide a certain amount of money between n participants i e to assign to each participant a certain portion wi of the whole sum so that w wn In some situations from the fairness requirements we can uniquely determine these weights wi However in some other situations general considerations do not allow us to uniquely determine these weights we only know the intervals w i...
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This paper aims to address two issues related to simultaneous aggregation of utilities and beliefs. The first one is related to how to integrate both inequality and uncertainty considerations into social decision-making. The second one is related to how individuals should be responsible for their own beliefs. To accomplish this, whereas individuals are assumed to abide by Savage model’s of subj...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2018
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-017-1097-1