Fair Utilitarianism
نویسندگان
چکیده
Utilitarianism plays a central role in economics, but there is gap between theory, where utilitarianism dominant, and applications, monetary criteria are often used. For key difficulty to define how utilities should be measured compared. Drawing on Harsanyi’s (1955) approach, we introduce new normalization of ensuring that: (i) transfer from rich population poor welfare enhancing, (ii) populations with more risk-averse people have lower welfare. We study some implications this “fair utilitarianism” for risk sharing, collective aversion, the design health policy. (JEL D63, D81)
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ژورنال
عنوان ژورنال: American Economic Journal: Microeconomics
سال: 2021
ISSN: ['1945-7669', '1945-7685']
DOI: https://doi.org/10.1257/mic.20170234