منابع مشابه
Risk Aversion and Social Networks
Agents involved in the formation of a social or economic network typically face uncertainty about the benefits of creating a link. However, the interplay of such uncertainty and risk attitudes has been neglected in the network formation literature. We propose a dynamic network formation model that builds on standard microeconomic concepts of utility maximization, incomplete information, and ris...
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This note shows that for two inequality averse social welfare functions, if one is more inequality averse than the other, the household preference induced by optimally allocating aggregate bundles according to this social welfare function is more risk averse than the other. We present examples showing that this comparative static can be reversed if inequality aversion is dropped. We show that t...
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This paper examines how to satisfy a separability condition related to " independence of the utilities of the dead " (Blackorby et al., 1995; Bommier and Zuber, 2008) in the class of " expected equally distributed equivalent " social orderings (Fleurbaey, 2010). It also inquires into the possibility to keep some aversion to inequality in this context. It is shown that the social welfare functio...
متن کاملInequality Aversion and Separability in Social Risk Evaluation∗
This paper examines how to satisfy “independence of the utilities of the dead” (Blackorby et al., 1995; Bommier and Zuber, 2008) in the class of “expected equally distributed equivalent” social orderings (Fleurbaey, 2010) and inquires into the possibility to keep some aversion to inequality in this context. It is shown that the social welfare function must either be utilitarian or take a specia...
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The Stern Review reported a social cost of carbon of over $300/tC, calling for ambitious climate policy. We here conduct a systematic sensitivity analysis of this result on two crucial parameters: the rate of pure time preference, and the rate of risk aversion. We show that the social cost of carbon lies anywhere in between 0 and $120 000/tC. However, if we restrict these two parameters to matc...
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ژورنال
عنوان ژورنال: Review of Network Economics
سال: 2014
ISSN: 1446-9022,2194-5993
DOI: 10.1515/rne-2014-0029