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On second-best compensation

Author

Listed:
  • W. Bossert
  • M. Fleurbaey
  • D. Van de gaer

Abstract

This paper examines how the first-best models of compensation based on the agents' talents and responsibilities analyzed in some recent contributions can be extended to a second-best context. A few social criteria are proposed and compared to alternative approaches by Roemer and Van de gaer.
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Suggested Citation

  • W. Bossert & M. Fleurbaey & D. Van de gaer, 1996. "On second-best compensation," THEMA Working Papers 96-07, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  • Handle: RePEc:ema:worpap:96-07
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    References listed on IDEAS

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    1. De Wolf, Olivier & Forges, Francoise, 1998. " Rational Choice in Strategic Environments: Further Observations," Scandinavian Journal of Economics, Wiley Blackwell, pages 529-535.
    2. Dubey, Pradeep & Geanakoplos, John & Shubik, Martin, 1987. "The revelation of information in strategic market games : A critique of rational expectations equilibrium," Journal of Mathematical Economics, Elsevier, vol. 16(2), pages 105-137, April.
    3. Thomas R. Palfrey & Sanjay Srivastava, 1987. "On Bayesian Implementable Allocations," Review of Economic Studies, Oxford University Press, pages 193-208.
    4. Radner, Roy, 1979. "Rational Expectations Equilibrium: Generic Existence and the Information Revealed by Prices," Econometrica, Econometric Society, vol. 47(3), pages 655-678, May.
    5. MINELLI, Enrico & POLEMARCHAKIS, Heracles, 1993. "Knowledge at Equilibrium," CORE Discussion Papers 1993054, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    6. Forges, Francoise & Minelli, Enrico, 1998. "Self-Fulfilling Mechanisms in Bayesian Games," Games and Economic Behavior, Elsevier, pages 292-310.
    7. Dubey, Pradeep & Shapley, Lloyd S., 1994. "Noncooperative general exchange with a continuum of traders: Two models," Journal of Mathematical Economics, Elsevier, vol. 23(3), pages 253-293, May.
    8. Postlewaite, Andrew & Schmeidler, David, 1986. "Implementation in differential information economies," Journal of Economic Theory, Elsevier, vol. 39(1), pages 14-33, June.
    9. Kaneko, Mamoru, 1982. "Some remarks on the folk theorem in game theory," Mathematical Social Sciences, Elsevier, pages 281-290.
    10. Blume, Lawrence & Easley, David, 1990. "Implementation of Walrasian expectations equilibria," Journal of Economic Theory, Elsevier, vol. 51(1), pages 207-227, June.
    11. Shapley, Lloyd S & Shubik, Martin, 1977. "Trade Using One Commodity as a Means of Payment," Journal of Political Economy, University of Chicago Press, vol. 85(5), pages 937-968, October.
    12. Forges, Francoise M, 1986. "An Approach to Communication Equilibria," Econometrica, Econometric Society, vol. 54(6), pages 1375-1385, November.
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    Citations

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    Cited by:

    1. Herrero, Carmen, 1997. "Equitable opportunities: an extension," Economics Letters, Elsevier, vol. 55(1), pages 91-95, August.
    2. Erik Schokkaert & Kurt Devooght, 2003. "Responsibility-sensitive fair compensation in different cultures," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 21(2), pages 207-242, October.
    3. Herrero, Carmen & Iturbe-Ormaetxe, Inigo & Nieto, Jorge, 1998. "Ranking opportunity profiles on the basis of the common opportunities," Mathematical Social Sciences, Elsevier, vol. 35(3), pages 273-289, May.
    4. Vitorocco Peragine, "undated". "Responsibility Compensation and Income Distribution," Discussion Papers 98/13, Department of Economics, University of York.
    5. Kranich, Laurence, 1997. "Equalizing opportunities through public education when innate abilities are unobservable," UC3M Working papers. Economics 7216, Universidad Carlos III de Madrid. Departamento de Economía.
    6. Ricardo Arlegi & Jorge Nieto, 1998. "Equality of Opportunities: Cardinality-Based Criteria," Documentos de Trabajo - Lan Gaiak Departamento de Economía - Universidad Pública de Navarra 9818, Departamento de Economía - Universidad Pública de Navarra.
    7. M. Fleurbaey & F. Maniquet, 1999. "Optimal income taxation : An ordinal approach," THEMA Working Papers 99-43, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
    8. Vito Peragine, 2004. "Measuring and implementing equality of opportunity for income," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, pages 187-210.
    9. Maniquet, Francois, 1998. "An equal right solution to the compensation-responsibility dilemma," Mathematical Social Sciences, Elsevier, vol. 35(2), pages 185-202, March.
    10. FLEURBAEY, Marc & MANIQUET, François, 1998. "Optimal income taxation: and ordinal approach," CORE Discussion Papers 1998065, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).

    More about this item

    JEL classification:

    • C00 - Mathematical and Quantitative Methods - - General - - - General
    • K10 - Law and Economics - - Basic Areas of Law - - - General (Constitutional Law)

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