Fairness That Money Can Buy - Procedural Egalitarianism in Practice
AbstractWe suggest that procedures of monetarized bidding can facilitate co-operation in Elinor Ostrom type common(s) projects without crowding out communitarian faculties of "self-governance". Axioms securing procedurally egalitarian bidding on the basis of declared monetary evaluations are introduced. They guarantee that all realized changes of a status quo are in an "objective" (pecuniary) sense equally advantageous for all members of the community. Some empirical evidence that procedurally fair bidding can promote communitarian co-operation rather than crowding it out, is presented. The practical scope and limits of procedural egalitarianism need further empirical exploration, though.
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Bibliographic InfoPaper provided by Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics in its series Jena Economic Research Papers with number 2013-003.
Date of creation: 09 Jan 2013
Date of revision:
Fair Procedures; Egalitarian Mechanisms; Unanimity; Constitutional Political Economy; Non-State Communities; Governing the Commons; Crowding out;
Other versions of this item:
- Werner Gueth & Hartmut Kliemt, 2013. "Fairness That Money Can Buy. Procedural Egalitarianism in Practice," Rationality, Markets and Morals, Frankfurt School Verlag, Frankfurt School of Finance & Management, vol. 4(65), May.
- H4 - Public Economics - - Publicly Provided Goods
- H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
- D62 - Microeconomics - - Welfare Economics - - - Externalities
- 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
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-01-19 (All new papers)
- NEP-CDM-2013-01-19 (Collective Decision-Making)
- NEP-HPE-2013-01-19 (History & Philosophy of Economics)
- NEP-PPM-2013-01-19 (Project, Program & Portfolio Management)
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.:
- Werner Güth & Anastasios Koukoumelis & M. Vittoria Levati & Matteo Ploner, 2012. "Public projects benefiting some and harming others: three experimental studies," Jena Economic Research Papers 2012-034, Friedrich-Schiller-University Jena, Max-Planck-Institute of Economics.
- Satz, Debra, 2010. "Why Some Things Should Not Be for Sale: The Moral Limits of Markets," OUP Catalogue, Oxford University Press, number 9780195311594.
- Kliemt, Hartmut, 1994. " The Calculus of Consent after Thirty Years," Public Choice, Springer, vol. 79(3-4), pages 341-53, June.
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