IDEAS home Printed from
   My bibliography  Save this paper

Shared Destinies and the Measurement and of Social Risk Equity


  • Thibault Gajdos

    () (CNRS-Centre d'Economie de la Sorbonne, Universit� Paris 1)

  • John A. Weymark

    () (Department of Economics, Vanderbilt University)

  • Claudio Zoli

    () (Dipartimento di Scienze Economiche, Universit� degli Studi di Verona)


The evaluation of social risk equity for alternative probability distributions over the potential sets of fatalities is analyzed axiomatically. Fishburn and Straffin [Equity considerations in public risks valuation, Operations Research 37 (1999), 229--239] have identified a necessary and sufficient condition for two social risk distributions to be judged to be socially indifferent whenever their associated distributions of risk of death for individuals and for the number of fatalities are the same. It is argued that this approach does not permit society to exhibit any concern for the number of people an individual perishes with. A weakening of the Fishburn-Straffin condition that is compatible with a concern for shared destinies is proposed.

Suggested Citation

  • Thibault Gajdos & John A. Weymark & Claudio Zoli, 2008. "Shared Destinies and the Measurement and of Social Risk Equity," Vanderbilt University Department of Economics Working Papers 0821, Vanderbilt University Department of Economics.
  • Handle: RePEc:van:wpaper:0821

    Download full text from publisher

    File URL:
    File Function: First version, 2008
    Download Restriction: no

    References listed on IDEAS

    1. Peter C. Fishburn & Rakesh K. Sarin, 1991. "Dispersive Equity and Social Risk," Management Science, INFORMS, vol. 37(7), pages 751-769, July.
    2. Antoine Bommier & Stéphane Zuber, 2008. "Can preferences for catastrophe avoidance reconcile social discounting with intergenerational equity?," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 31(3), pages 415-434, October.
    3. Ralph L. Keeney, 1980. "Utility Functions for Equity and Public Risk," Management Science, INFORMS, vol. 26(4), pages 345-353, April.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Social risk evaluation; social risk equity; public risk; shared destinies;

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • H43 - Public Economics - - Publicly Provided Goods - - - Project Evaluation; Social Discount Rate


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:van:wpaper:0821. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (John P. Conley) or (Marina Grazioli). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.