User menu

Accès à distance ? S'identifier sur le proxy UCLouvain

The pareto principle of optimal inequality

Primary tabs

Bommier, Antoine Zuber, Stéphane

The Pareto principle is often viewed as a mild requirement compatible with a variety of value judgments. In particular, it is generally thought that it can accommodate different degrees of inequality aversion. We show that this is generally not true in time-consistent intertemporal models where some uncertainty prevails. © (2012) by the Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.

Document type Article de périodique (Journal article) – Article de recherche
Access type Accès restreint
Publication date 2012
Language Anglais
Journal information "International Economic Review" - Vol. 53, no. 2, p. 593-608 (2012)
Peer reviewed yes
Publisher Wiley-Blackwell Publishing, Inc.
e-issn 1468-2354
issn 0020-6598
Publication status Publié
Affiliation UCL - SSH/LIDAM/CORE - Center for operations research and econometrics
Links
  1. Anscombe F. J., Aumann R. J., A Definition of Subjective Probability, 10.1214/aoms/1177704255
  2. Arrow, Aspects of the Theory of Risk-Bearing (1965)
  3. Atkinson Anthony B, On the measurement of inequality, 10.1016/0022-0531(70)90039-6
  4. Atkinson A. B., Bourguignon F., The Comparison of Multi-Dimensioned Distributions of Economic Status, 10.2307/2297269
  5. Bommier, Journal of Economic Theory
  6. Bosmans Kristof, Comparing degrees of inequality aversion, 10.1007/s00355-006-0213-0
  7. H. Chew S., Epstein Larry G., The Structure of Preferences and Attitudess towards the Timing of the Resolution of Uncertainty, 10.2307/2526551
  8. Diamond Peter A., Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparison of Utility: Comment, 10.1086/259353
  9. Donaldson David, Weymark John A, A single-parameter generalization of the Gini indices of inequality, 10.1016/0022-0531(80)90065-4
  10. Epstein Larry G., Segal Uzi, Quadratic Social Welfare Functions, 10.1086/261836
  11. Fleurbaey Marc, Assessing Risky Social Situations, 10.1086/656513
  12. Gajdos T., Tallon J.-M., Vergnaud J.-C., Representation and aggregation of preferences under uncertainty, 10.1016/j.jet.2007.10.001
  13. Ghirardato Paolo, Maccheroni Fabio, Marinacci Massimo, Differentiating ambiguity and ambiguity attitude, 10.1016/j.jet.2003.12.004
  14. Gilboa Itzhak, Samet Dov, Schmeidler David, Utilitarian Aggregation of Beliefs and Tastes, 10.1086/421173
  15. Gilboa Itzhak, Schmeidler David, Maxmin expected utility with non-unique prior, 10.1016/0304-4068(89)90018-9
  16. Gollier Christian, Discounting with fat-tailed economic growth, 10.1007/s11166-008-9050-0
  17. Generalized Utilitarianism and Harsanyi's Impartial Observer Theorem, 10.3982/ecta6712
  18. Grant Simon, Quiggin John, Increasing uncertainty: a definition, 10.1016/j.mathsocsci.2004.08.005
  19. Hammond Peter J., Equity, Arrow's Conditions, and Rawls' Difference Principle, 10.2307/1913445
  20. Hammond Peter J., Why ethical measures of inequality need interpersonal comparisons, 10.1007/bf00135081
  21. Hammond Peter J., Consequentialist foundations for expected utility, 10.1007/bf00129168
  22. Harsanyi John C., Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility, 10.1086/257678
  23. Jewitt Ian, Choosing Between Risky Prospects: The Characterization of Comparative Statics Results, and Location Independent Risk, 10.1287/mnsc.35.1.60
  24. Johnsen Thore H., Donaldson John B., The Structure of Intertemporal Preferences under Uncertainty and Time Consistent Plans, 10.2307/1913219
  25. Karni Edi, Schmeidler David, Atemporal dynamic consistency and expected utility theory, 10.1016/0022-0531(91)90130-v
  26. Kihlstrom Richard E, Mirman Leonard J, Risk aversion with many commodities, 10.1016/0022-0531(74)90091-x
  27. Kolm Serge-Christophe, Unequal inequalities. I, 10.1016/0022-0531(76)90037-5
  28. Koopmans, Decision and Organization, 57 (1972)
  29. Kreps David M., Porteus Evan L., Temporal Resolution of Uncertainty and Dynamic Choice Theory, 10.2307/1913656
  30. Maasoumi Esfandiar, The Measurement and Decomposition of Multi-Dimensional Inequality, 10.2307/1912849
  31. Machina, Journal of Economic Literature, 27, 1622 (1989)
  32. Myerson Roger B., Utilitarianism, Egalitarianism, and the Timing Effect in Social Choice Problems, 10.2307/1912508
  33. Pratt John W., Risk Aversion in the Small and in the Large, 10.2307/1913738
  34. Sarin Rakesh, Wakker Peter, Folding Back in Decision Tree Analysis, 10.1287/mnsc.40.5.625
  35. Schmeidler David, Subjective Probability and Expected Utility without Additivity, 10.2307/1911053
  36. Yaari Menahem E, Some remarks on measures of risk aversion and on their uses, 10.1016/0022-0531(69)90036-2
Bibliographic reference Bommier, Antoine ; Zuber, Stéphane. The pareto principle of optimal inequality. In: International Economic Review, Vol. 53, no. 2, p. 593-608 (2012)
Permanent URL http://hdl.handle.net/2078.1/160998