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Fairness and Social Risk II: Aggregated Analyses

Author

Listed:
  • Peter C. Fishburn

    (AT&T Bell Laboratories, Murray Hill, New Jersey 07974)

  • Rakesh K. Sarin

    (Anderson Graduate School of Management, University of California, Los Angeles, California 90024)

Abstract

This paper is the second of a two-paper study of fairness issues for decisions that affect the benefits received and the risks encountered by a population. The study examines fairness for individuals and for homogeneous groups within the population. It considers fairness both for population benefit-risk profiles and for probability distributions over profiles. Our study bases fairness on notions of envy among individuals and groups. The first paper focused on fairness in profiles and profile distributions when benefits and risks are not aggregated. The present paper uses individual preferences to assess fairness when benefits and risks are aggregated within groups or over the population. It concentrates on intergroup envy measures and fairness indices that account for ways that aggregated benefits and risks might be allocated to members of groups or to groups within the population.

Suggested Citation

  • Peter C. Fishburn & Rakesh K. Sarin, 1997. "Fairness and Social Risk II: Aggregated Analyses," Management Science, INFORMS, vol. 43(1), pages 15-26, January.
  • Handle: RePEc:inm:ormnsc:v:43:y:1997:i:1:p:15-26
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    File URL: http://dx.doi.org/10.1287/mnsc.43.1.15
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    Citations

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    Cited by:

    1. Bernard, Carole & Rheinberger, Christoph & Treich, Nicolas, 2017. "Catastrophe Aversion and Risk Equity in an Interdependent World," TSE Working Papers 17-811, Toulouse School of Economics (TSE).
    2. Ingrid T. Rohde & Kirsten M. Rohde, 2015. "Managing social risks – tradeoffs between risks and inequalities," Journal of Risk and Uncertainty, Springer, vol. 51(2), pages 103-124, October.
    3. James E. Smith & Detlof von Winterfeldt, 2004. "Anniversary Article: Decision Analysis in Management Science," Management Science, INFORMS, vol. 50(5), pages 561-574, May.

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