Fairness und ihr Preis
AbstractBased on the premise that fairness is different from equity and that it is primarily used in in-formal contexts we present an economic approach to fairness. Discussing the results of behav-ioral economics reveals the experience that people do not accept a monetary offer even if that collides with the rationale that more money means higher utility. The economic aspects of fairness are discussed in two ways: first, Varian´s idea of envy-free allocations in a general-equilibrium context are exposed briefly, and second, we concentrate on the implications of fairness defined via producer and consumer rents. This in-depth exposition focuses on private as well as public goods and concludes with a comparative analysis of fairness in the private and public spheres.
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Bibliographic InfoPaper provided by Helmut Schmidt University, Hamburg in its series Working Paper with number 101/2010.
Length: 68 pages
Date of creation: 07 Jun 2010
Date of revision:
fairness; welfare; private goods; public goods;
Find related papers by JEL classification:
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- H41 - Public Economics - - Publicly Provided Goods - - - Public Goods
This paper has been announced in the following NEP Reports:
- NEP-ALL-2010-06-18 (All new papers)
- NEP-GER-2010-06-18 (German Papers)
- NEP-HPE-2010-06-18 (History & Philosophy of Economics)
- NEP-UPT-2010-06-18 (Utility Models & Prospect Theory)
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