Advanced Search
MyIDEAS: Login to save this paper or follow this series

Behavioral Fair Social Choice

Contents:

Author Info

  • Marc Fleurbaey

    ()
    (Princeton University)

  • Erik Schokkaert

    ()
    (Katholieke Universiteit Leuven and CORE)

Abstract

Behavioral economics has shaken the view that individuals have well-defined, consistent and stable preferences. This raises a challenge for welfare economics, which takes as a key postulate that individual preferences should be respected. This paper scrutinizes the challenge and argues, in agreement with Bernheim (2009) and Bernheim and Rangel (2009) that behavioral economics is compatible with consistency of partial preferences. While Bernheim and Rangel have focused on how to incorporate insights from behavioral economics into traditional concepts of welfare economics (Pareto optimality, compensation tests), we explore how the approach can be extended to deal with distributive issues. This paper revisits some key results of the theory in a framework with partial preferences and shows how one can derive partial orderings of individual and social situations.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://humcap.uchicago.edu/RePEc/hka/wpaper/Fleurbaey_Schokkaert_2012_behavioral-fair-choice.pdf
File Function: First version, 4/1/2012
Download Restriction: no

Bibliographic Info

Paper provided by Human Capital and Economic Opportunity Working Group in its series Working Papers with number 2012-012.

as in new window
Length:
Date of creation: Apr 2012
Date of revision:
Handle: RePEc:hka:wpaper:2012-012

Note: MIP
Contact details of provider:
Email:
Web page: http://www.hceconomics.org/
More information through EDIRC

Related research

Keywords: behavioral economics; preferences; welfare economics; psychology; social choice; fairness.;

Other versions of this item:

Find related papers by JEL classification:

References

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
as in new window
  1. B. Douglas Bernheim & Antonio Rangel, 2008. "Beyond Revealed Preference: Choice Theoretic Foundations for Behavioral Welfare Economics," NBER Working Papers 13737, National Bureau of Economic Research, Inc.
  2. Loewenstein, George & Ubel, Peter A., 2008. "Hedonic adaptation and the role of decision and experience utility in public policy," Journal of Public Economics, Elsevier, vol. 92(8-9), pages 1795-1810, August.
  3. B. Douglas Bernheim, 2008. "Behavioral Welfare Economics," NBER Working Papers 14622, National Bureau of Economic Research, Inc.
  4. Blackorby, Charles & Donaldson, David, 1988. "Money metric utility: A harmless normalization?," Journal of Economic Theory, Elsevier, vol. 46(1), pages 120-129, October.
  5. King, Mervyn A., 1983. "Welfare analysis of tax reforms using household data," Journal of Public Economics, Elsevier, vol. 21(2), pages 183-214, July.
  6. John Beshears & James Choi & David Laibson & Brigitte Madrian, 2007. "How Are Preferences Revealed?," Levine's Bibliography 122247000000001760, UCLA Department of Economics.
  7. M. Fleurbaey & A. Trannoy, 2000. "The Impossibility of a Paretian Egalitarian," THEMA Working Papers 2000-26, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  8. Bruno S. Frey & Alois Stutzer, 2001. "What Can Economists Learn from Happiness Research?," CESifo Working Paper Series 503, CESifo Group Munich.
  9. Marc Fleurbaey, 2009. "Beyond GDP: The Quest for a Measure of Social Welfare," Journal of Economic Literature, American Economic Association, vol. 47(4), pages 1029-75, December.
  10. Dalton, Patricio; Ghosal, Sayantan, 2010. "Behavioural Decisions and Welfare," CAGE Online Working Paper Series, Competitive Advantage in the Global Economy (CAGE) 06, Competitive Advantage in the Global Economy (CAGE).
  11. FLEURBAEY, Marc & SCHOKKAERT, Erik & DECANCQ, Koen, 2009. "What good is happiness?," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 2009017, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  12. Marc Fleurbaey, 2005. "Health, Wealth, and Fairness," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 7(2), pages 253-284, 05.
  13. Daniel Kahneman & Robert Sugden, 2005. "Experienced Utility as a Standard of Policy Evaluation," Environmental & Resource Economics, European Association of Environmental and Resource Economists, European Association of Environmental and Resource Economists, vol. 32(1), pages 161-181, 09.
  14. Koszegi, Botond & Rabin, Matthew, 2008. "Choices, situations, and happiness," Journal of Public Economics, Elsevier, vol. 92(8-9), pages 1821-1832, August.
  15. Amos Tversky & Itamar Simonson, 1993. "Context-Dependent Preferences," Management Science, INFORMS, INFORMS, vol. 39(10), pages 1179-1189, October.
  16. Fleurbaey,Marc & Maniquet,François, 2011. "A Theory of Fairness and Social Welfare," Cambridge Books, Cambridge University Press, number 9780521715348, 9.
  17. Kahneman, Daniel & Wakker, Peter P & Sarin, Rakesh, 1997. "Back to Bentham? Explorations of Experienced Utility," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 112(2), pages 375-405, May.
  18. B. Douglas Bernheim & Antonio Rangel, 2009. "Beyond Revealed Preference: Choice-Theoretic Foundations for Behavioral Welfare Economics-super-," The Quarterly Journal of Economics, MIT Press, MIT Press, vol. 124(1), pages 51-104, February.
  19. Willig, Robert D, 1981. "Social Welfare Dominance," American Economic Review, American Economic Association, American Economic Association, vol. 71(2), pages 200-204, May.
  20. Bernt Christian Brun & Bertil Tungodden, 2004. "Non-welfaristic theories of justice: Is “the intersection approach” a solution to the indexing impasse?," Social Choice and Welfare, Springer, Springer, vol. 22(1), pages 49-60, 02.
Full references (including those not matched with items on IDEAS)

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Pivato, Marcus, 2013. "Social welfare with incomplete ordinal interpersonal comparisons," Journal of Mathematical Economics, Elsevier, vol. 49(5), pages 405-417.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:hka:wpaper:2012-012. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Jennifer Pachon).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.