IDEAS home Printed from https://ideas.repec.org/a/cup/ecnphi/v23y2007i01p15-43_00.html
   My bibliography  Save this article

Social Choice And Just Institutions: New Perspectives

Author

Listed:
  • FLEURBAEY, MARC

Abstract

It has become accepted that social choice is impossible in the absence of interpersonal comparisons of well-being. This view is challenged here. Arrow obtained an impossibility theorem only by making unreasonable demands on social choice functions. With reasonable requirements, one can get very attractive possibilities and derive social preferences on the basis of non-comparable individual preferences. This new approach makes it possible to design optimal second-best institutions inspired by principles of fairness, while traditionally the analysis of optimal second-best institutions was thought to require interpersonal comparisons of well-being. In particular, this approach turns out to be especially suitable for the application of recent philosophical theories of justice formulated in terms of fairness, such as equality of resources.

Suggested Citation

  • Fleurbaey, Marc, 2007. "Social Choice And Just Institutions: New Perspectives," Economics and Philosophy, Cambridge University Press, vol. 23(01), pages 15-43, March.
  • Handle: RePEc:cup:ecnphi:v:23:y:2007:i:01:p:15-43_00
    as

    Download full text from publisher

    File URL: http://journals.cambridge.org/abstract_S0266267107001204
    File Function: link to article abstract page
    Download Restriction: no

    Other versions of this item:

    References listed on IDEAS

    as
    1. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-291, March.
    2. Arrow, Kenneth J, 1982. "Risk Perception in Psychology and Economics," Economic Inquiry, Western Economic Association International, vol. 20(1), pages 1-9, January.
    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


    Cited by:

    1. BOSSERT, Walter & WEYMARK, J.A., 2006. "Social Choice: Recent Developments," Cahiers de recherche 01-2006, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    2. Fabien Candau & Marc Fleurbaey, 2011. "Agglomeration and Welfare with Heterogeneous Preferences," Open Economies Review, Springer, pages 685-708.
    3. Clément, Valérie & Moureau, Nathalie & Vidal, Marion, 2009. "À la recherche des biens sous tutelle," L'Actualité Economique, Société Canadienne de Science Economique, vol. 85(4), pages 383-401, décembre.
    4. John Roemer, 2011. "Marc Fleurbaey, Fairness, responsibility, and welfare," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, pages 129-135.

    More about this item

    JEL classification:

    • 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

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cup:ecnphi:v:23:y:2007:i:01:p:15-43_00. 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: (Keith Waters). General contact details of provider: http://journals.cambridge.org/jid_EAP .

    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.

    We have no references for this item. You can help adding them by using 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 RePEc Author Service 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.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.