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Behavioral fair social choice

Authors: FLEURBAEY, Marc; SCHOKKAERT, Erik;

Behavioral fair social choice

Abstract

Behavioral economics has shaken the view that individuals have well-defined, consistent and stable preferences. This raises a challenge for welfare economics, which takes as a key postulate that individual preferences should be respected. We agree with Bernheim (2009) and Bernheim and Rangel (2009) that behavioral economics is compatible with consistency of partial preferences and that subjective welfare measures do not offer an attractive way out of the impasse. However, their analysis which rests on traditional concepts like Pareto optimality and compensation tests, is not adequate to introduce distributional considerations. We explore how partial preferences can be introduced in the recent theory of welfare that has developed from the theory of fair allocation. We revisit the key results of that theory in a framework with partial preferences and show how one can derive partial orderings of individual and social situations.

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Belgium
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Keywords

behavioral economics, preferences, welfare economics, psychology, social choice, fairness., behavioral economics, preferences, welfare economics, psychology, social choice, fairness, welfare economics, social choice, fairness, behavioral economics, psychology, preferences, jel: jel:D60, jel: jel:D71

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
0
Average
Average
Average
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