Social Choice And Just Institutions: New Perspectives
AbstractIt has become accepted that social choice is impossible in the absence of interpersonal comparisons of well-being. This view is challenged here. Arrow obtained an impossibility theorem only by making unreasonable demands on social choice functions. With reasonable requirements, one can get very attractive possibilities and derive social preferences on the basis of non-comparable individual preferences. This new approach makes it possible to design optimal second-best institutions inspired by principles of fairness, while traditionally the analysis of optimal second-best institutions was thought to require interpersonal comparisons of well-being. In particular, this approach turns out to be especially suitable for the application of recent philosophical theories of justice formulated in terms of fairness, such as equality of resources.
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Bibliographic InfoArticle provided by Cambridge University Press in its journal Economics and Philosophy.
Volume (Year): 23 (2007)
Issue (Month): 01 (March)
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Other versions of this item:
- Marc Fleurbaey, 2002. "Social Choice and Just Institutions: New Perspectives," Working Papers 333, Bielefeld University, Center for Mathematical Economics.
- Marc Fleurbaey, 2006. "Social Choice and Just Institutions:New Perspectives," Working Papers halshs-00121378, HAL.
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
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- John Roemer, 2011. "Marc Fleurbaey, Fairness, responsibility, and welfare," Journal of Economic Inequality, Springer, vol. 9(1), pages 129-135, March.
- Fabien Candau & Marc Fleurbaey, 2011. "Agglomeration and Welfare with Heterogeneous Preferences," Open Economies Review, Springer, vol. 22(4), pages 685-708, September.
- BOSSERT, Walter & WEYMARK, J.A., 2006.
"Social Choice: Recent Developments,"
Cahiers de recherche
2006-01, Universite de Montreal, Departement de sciences economiques.
- Walter Bossert & John A. Weymark, 2006. "Social Choice: Recent Developments," Vanderbilt University Department of Economics Working Papers 0603, Vanderbilt University Department of Economics.
- BOSSERT, Walter & WEYMARK, J.A., 2006. "Social Choice: Recent Developments," Cahiers de recherche 01-2006, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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