Inequality aversion and separability in social risk evaluation

Marc Fleurbaey and Stéphane Zuber

No 2011023, LIDAM Discussion Papers CORE from Université catholique de Louvain, Center for Operations Research and Econometrics (CORE)

Abstract: This paper examines how to satisfy a separability condition related to “independence of the utilities of the dead” (Blackorby et al., 1995; Bommier and Zuber, 2008) in the class of “expected equally distributed equivalent” social orderings (Fleurbaey, 2010). It also inquires into the possibility to keep some aversion to inequality in this context. It is shown that the social welfare function must either be utilitarian or take a special multiplicative form. The multiplicative form is compatible with any degree of inequality aversion, but only under some constraints on the range of individual utilities.

Keywords: risk; ex post equity; independence of the utilities of the dead (search for similar items in EconPapers)
JEL-codes: D63 D71 D81 (search for similar items in EconPapers)
Date: 2011-05-01
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Inequality aversion and separability in social risk evaluation (2013)
Working Paper: Inequality aversion and separability in social risk evaluation (2013)
Working Paper: Inequality aversion and separability in social risk evaluation (2013)
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