Characterizations of Consenquentialism and Non-consequentialism
By allowing for the possibility that individuals recognize the intrinsic value of choice along with the instrumental value thereof, we suppose that individuals express extended preference orderings of the following type: Choosing an outcome x from an opportunity set A is better than choosing an outcome y from an opportunity set B. Within this framework, we identify a consequentialist and a non-consequentialist, who show contrasting attitudes toward outcomes vis-a-vis opportunities. The task of this paper is to characterize these attitudes in terms of some axioms. The companion paper explores the implications of these concepts in the context of social choice.
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- Bossert Walter & Pattanaik Prasanta K. & Xu Yongsheng, 1994. "Ranking Opportunity Sets: An Axiomatic Approach," Journal of Economic Theory, Elsevier, vol. 63(2), pages 326-345, August.
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