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Welfare as Equity Equivalents

Author

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  • Loïc Berger

    (CNRS - Centre National de la Recherche Scientifique, IÉSEG School Of Management [Puteaux], LEM - Lille économie management - UMR 9221 - UA - Université d'Artois - UCL - Université catholique de Lille - ULCO - Université du Littoral Côte d'Opale - Université de Lille - CNRS - Centre National de la Recherche Scientifique)

  • Johannes Emmerling

    (EIEE - European Institute on Economics and the Environment)

Abstract

Equity (or, its counterpart, inequity) plays a fundamental role in the evaluation of social welfare in different dimensions. In this paper, we revisit the concept of inequity-in the sense of unequal distributions-across individuals, time, and states of the world using a unified framework that generalizes the standard expected discounted utilitarianism approach. We propose a general measure of welfare as equity equivalents and a corresponding inequity index. We show that allowing for different attitudes toward inequity across different dimensions covers a scope of possible inequity preferences with different interpretations. We then prove that the order of aggregation across the different dimensions matters for welfare evaluations. Finally, we show that many of the welfare-theoretical approaches recently developed in the literature can be interpreted as special cases of this general framework.

Suggested Citation

  • Loïc Berger & Johannes Emmerling, 2020. "Welfare as Equity Equivalents," Post-Print hal-02937705, HAL.
    • Handle: RePEc:hal:journl:hal-02937705
    DOI: 10.1111/joes.12368
    Note: View the original document on HAL open archive server: https://hal.science/hal-02937705v1
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    Cited by:

    1. Fulvio Castellacci, 2023. "Innovation and social welfare: A new research agenda," Journal of Economic Surveys, Wiley Blackwell, vol. 37(4), pages 1156-1191, September.
    2. Milan Scasny & Matej Opatrny, 2022. "New Estimate of the Elasticity of Marginal Utility of Consumption for Europe: Implications for the Social Discount Rate," Working Papers IES 2022/29, Charles University Prague, Faculty of Social Sciences, Institute of Economic Studies, revised Dec 2022.
    3. Marc Fleurbaey & Domenico Moramarco & Vito Peragine, 2024. "Measuring inequality and welfare when some inequalities matter more than others," Working Papers 674, ECINEQ, Society for the Study of Economic Inequality.
    4. Martinet, Vincent & Del Campo, Stellio & Cairns, Robert D., 2022. "Intragenerational inequality aversion and intergenerational equity," European Economic Review, Elsevier, vol. 144(C).
    5. Da Costa, Shaun & O’Donnell, Owen & Van Gestel, Raf, 2024. "Distributionally sensitive measurement and valuation of population health," Journal of Health Economics, Elsevier, vol. 93(C).
    6. Shaun Da Costa & Owen O'Donnell & Raf Van Gestel, 2023. "Distributionally Sensitive Measurement and Valuation of Population Health," Tinbergen Institute Discussion Papers 23-017/V, Tinbergen Institute.

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