The informational basis of the theory of fair allocation
AbstractThe theory of fair allocation is often favourably contrasted with the social choice theory in the search for escape routes from Arrow's impossibility theorem. Its success is commonly attributed to the fact that it is modest in its goal vis-a-vis social choice theory, since it does not aspire for a full-fledged ordering of options, and settles with a subset of "fair" options. We show that its success may rather be attributable to a broadened informational basis thereof. To substantiate this claim, we compare the informational basis of the theory of fair allocation with the informational requirements of social choice theory.
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Bibliographic InfoArticle provided by Springer in its journal Social Choice and Welfare.
Volume (Year): 24 (2005)
Issue (Month): 2 (04)
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Web page: http://link.springer.de/link/service/journals/00355/index.htm
Other versions of this item:
- Fleurbaey, Marc & Suzumura, Kotaro & Tadenuma, Koichi, 2002. "The Informational Basis of the Theory of Fair Allocation," Discussion Papers 2002-11, Graduate School of Economics, Hitotsubashi University.
- Fleurbaey, Marc & Suzumura, Kotaro & Tadenuma, Koichi, 2002. "The Informational Basis of the Theory of Fair Allocation," Discussion Paper 122, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
- 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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