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Objective measures of well-being and the cooperative production problem

Listed author(s):
  • FrÊdÊric Gaspart

    (FUNDP Namur, 8, Rempart de la Vierge, B-5000 Namur, Belgium)

The concern for measuring well-being objectively (as opposed to subjectively, that is, relying only on preferences) is found in modern political philosophy, especially in J. Rawls's, A. Sen's and G. Cohen's writings. This paper explains the implications of using an objective well-being index as equalisandum or, close to the so-called "safety net preoccupation", to guarantee a well-being lower bound. In the simple production model studied here, five characterization results and two related theorems prove the convergence of both approaches. We come to the conclusion that the Proportional Solution is the dominant solution according to "objectivist" axioms.

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Article provided by Springer & The Society for Social Choice and Welfare in its journal Social Choice and Welfare.

Volume (Year): 15 (1997)
Issue (Month): 1 ()
Pages: 95-112

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Handle: RePEc:spr:sochwe:v:15:y:1997:i:1:p:95-112
Note: Received: 5 September 1994/Accepted: 29 June 1996
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