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The Ethical Mirror

Author

Listed:
  • Eden, Maya
  • Piacquadio, Paolo G.

Abstract

This paper identifies an ethical-mirror property of Paretian welfarism. If individuals’ other-regarding preferences enter their welfare, then any Paretian welfarist aggregation must closely reflect prevailing ethical views. Formally, social marginal welfare weights can deviate only slightly from a weighted average of individuals’ ethical marginal valuations; in large populations, this deviation is negligible under conservative calibrations. The result sharply restricts the choice of social welfare functions. Inequality aversion, paternalistic choices, and gender weights are then largely inherited from prevailing ethical beliefs. This is troubling when those beliefs are misguided: welfarism must either mirror them or reject the interpretation of other-regarding preferences as welfare-relevant.

Suggested Citation

  • Eden, Maya & Piacquadio, Paolo G., 2025. "The Ethical Mirror," CEPR Discussion Papers 20624, Centre for Economic Policy Research.
    • Handle: RePEc:cpr:ceprdp:20624
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    File URL: https://cepr.org/publications/DP20624
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    Cited by:

    1. Julien Combe & Yves Le Yaouanq, 2026. "Optimal Paternalistic Regulation of Markets," CESifo Working Paper Series 13028, CESifo.

    More about this item

    Keywords

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    JEL classification:

    • D30 - Microeconomics - - Distribution - - - General
    • D60 - Microeconomics - - Welfare Economics - - - General
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General

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