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The Moral Theory of Value ; A Gift Lemma

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  • Mughal, Adil Ahmad

Abstract

Aside from the calculating and always troublesome utilitarian ethic, a moral theory of value can better serve as a desirable form of the veil of ignorance analogy on the part of the arbitration of allocation procedures. Philosopher Soren Kierkegaard suggested a 'moral absolute' that achieves a 'teleological suspension of the ethical'. This suspension or the veil of ignorance can be formulated as a randomization of allocation procedures across agents in a given preference space; such that, a truly self-interested gain is unpriced and therefore a true gift, that is, a gift without an obligation.

Suggested Citation

  • Mughal, Adil Ahmad, 2022. "The Moral Theory of Value ; A Gift Lemma," MPRA Paper 114825, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:114825
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    References listed on IDEAS

    as
    1. Edi Karni & Zvi Safra, 2002. "Individual Sense of Justice: A Utility Representation," Econometrica, Econometric Society, vol. 70(1), pages 263-284, January.
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    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • C9 - Mathematical and Quantitative Methods - - Design of Experiments
    • D6 - Microeconomics - - Welfare Economics

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