Opportunities as chances: maximising the probability that everybody succeeds
AbstractOpportunities in society are commonly interpreted as `chances of success'. Within this interpretation, should opportunities be equalised? We show that a liberal principle of justice and a limited principle of social rationality imply that opportunity profiles should be evaluated by means of a `Nash' criterion. The interpretation is new: the social objective should be to maximise the chance that everybody in society succeeds. In particular, the failure of even only one individual must be considered maximally detrimental. We also study a refinement of this criterion and its extension to problems of intergenerational justice.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 41884.
Date of creation: Oct 2012
Date of revision:
Opportunities; chances in life; Non-Interference; Nash ordering;
Other versions of this item:
- Marco Mariotti & Roberto Veneziani, 2012. "Opportunities as chances: maximising the probability that everybody succeeds," UMASS Amherst Economics Working Papers 2012-09, University of Massachusetts Amherst, Department of Economics.
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-10-20 (All new papers)
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