Inequality aversion and separability in social risk evaluation

Marc Fleurbaey and Stéphane Zuber

Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) from HAL

Abstract: This paper examines how to satisfy "independence of the utilities of the dead" (Blackorby et al. in Econometrica 63:1303-1320, 1995; Bommier and Zuber in Soc Choice Welf 31:415-434, 2008) in the class of "expected equally distributed equivalent" social orderings (Fleurbaey in J Polit Econ 118:649-680, 2010) and 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)
Date: 2013-11
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Citations: View citations in EconPapers (11)

Published in Economic Theory, 2013, 54 (3), pp.675-692. ⟨10.1007/s00199-012-0730-2⟩

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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 (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:cesptp:hal-00979778

DOI: 10.1007/s00199-012-0730-2

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