Assessing risky social situations

Marc Fleurbaey

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: This paper re-examines the welfare economics of risk. It singles out a class of criteria, the “expected equally-distributed equivalent”, as the unique class which avoids serious drawbacks of existing approaches. Such criteria behave like ex-post criteria when the final statistical distribution of wellbeing is known ex ante, and like ex-ante criteria when risk generates no inequality. The paper also provides a new result on the tension between inequality aversion and respect of individual ex ante preferences, in the vein of Harsanyi’s aggregation theorem.

JEL-codes: D63 D71 D81 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2009
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
http://eprints.lse.ac.uk/27006/ Open access version. (application/pdf)

Related works:
Journal Article: Assessing Risky Social Situations (2010)
Working Paper: Assessing risky social situations (2010)
Working Paper: Assessing Risky Social Situations (2007)
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Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:27006

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