Social Choice and Just Institutions: New Perspectives
It has become accepted that social choice is impossible in 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 new 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.
|Date of creation:||Jan 2002|
|Date of revision:|
|Contact details of provider:|| Postal: |
Web page: http://www.imw.uni-bielefeld.de/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:bie:wpaper:333. 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: (Bettina Weingarten)
If references are entirely missing, you can add them using this form.