Fairness Or Efficiency - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Fairness Or Efficiency write by Edward E. Zajac. This book was released on 1978. Fairness Or Efficiency available in PDF, EPUB and Kindle.
Economic Efficiency and the Parameters of Fairness
Economic Efficiency and the Parameters of Fairness - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Economic Efficiency and the Parameters of Fairness write by Barbara Ann White. This book was released on 2010. Economic Efficiency and the Parameters of Fairness available in PDF, EPUB and Kindle. This article provides resolutions to a number of conundrums that have vexed policy-makers and scholars for some decades. The most significant conclusion is that efficiency and fairness concerns do not conflict but rather mutually support each other in the goal of maximizing social welfare. This is contrary to the more widely-held view by both advocates of law and economic reasoning and those favoring deontological concerns that a trade-off between fairness and efficiency is inevitable. This article demonstrates how the coalescence of the two frameworks, the cultivation of fairness with law and economics' efficiency maximization, yields greater enhancements of social welfare than efficiency alone, by simultaneously satisfying the criteria of both. The analysis also points out that more than one state of the world likely exists that satisfies both sets of criteria and the selection is political, not determined by any objective criteria, but chosen by the subjective criteria of the decision-maker. This article also discusses Kaplow and Shavell's noted and contrary assertion that a rigourous demonstration (with mathematical formality) shows that fairness concerns should never enter as an independent factor when policy makers seek to maximize social welfare. I show, however, that Kaplow and Shavell's conclusion rests on a mathematical construction of fairness that essentially strips it of all social-welfare enhancing properties, which does not comport with usual notions and purposes of fairness. It is this faulty mathematical construction that leads them to the conclusions they reach. The indeterminacy inherent in the Pareto efficiency criteria leading to multiple efficient states not only characterizes efficiency analysis's limitations but also delineates the scope for deontological choices. This article shows that a decision regarding efficient states necessarily requires deontological decisions; deontological decisions do not substitute for efficiency but compliment it. Finally, the concept of “parameters of fairness” is introduced as a means to circumscribe the maximum efficient states that are also maximum fairness states. Considering excessive corporate harm by way of example, a matter mainstream economic analysis has failed to resolve, I employ feminist legal theory as the deontological construct to yield a range of satisfactory efficient and fair resolutions. Though any deontological system would do, the conflation of feminist legal theory and law and economic analysis is particularly significant because, historically, supporters in each camp have been diametrically opposed to the tenets of the other.
A Theory of Fairness and Social Welfare
A Theory of Fairness and Social Welfare - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook A Theory of Fairness and Social Welfare write by Marc Fleurbaey. This book was released on 2011-06-13. A Theory of Fairness and Social Welfare available in PDF, EPUB and Kindle. The definition and measurement of social welfare have been a vexed issue for the past century. This book makes a constructive, easily applicable proposal and suggests how to evaluate the economic situation of a society in a way that gives priority to the worse-off and that respects each individual's preferences over his or her own consumption, work, leisure and so on. This approach resonates with the current concern to go 'beyond the GDP' in the measurement of social progress. Compared to technical studies in welfare economics, this book emphasizes constructive results rather than paradoxes and impossibilities, and shows how one can start from basic principles of efficiency and fairness and end up with concrete evaluations of policies. Compared to more philosophical treatments of social justice, this book is more precise about the definition of social welfare and reaches conclusions about concrete policies and institutions only after a rigorous derivation from clearly stated principles.
Political Economy of Fairness
Political Economy of Fairness - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Political Economy of Fairness write by Edward E. Zajac. This book was released on 1995. Political Economy of Fairness available in PDF, EPUB and Kindle. This work questions how governments should balance the aims of justice and economic efficiency when intervening in the economy. It covers the main advances of fairness theory and reviews the experimental work of economists as well as the more standard approaches of moral philosophers.
Fairness in Law and Economics
Fairness in Law and Economics - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Fairness in Law and Economics write by Lee Anne Fennell. This book was released on 2013. Fairness in Law and Economics available in PDF, EPUB and Kindle. Although the relationship between fairness and the economic concept of efficiency is usually cast as an adversarial one, this collection demonstrates the robust and diverse ways in which economics engages - and cannot avoid engaging - with fairness. Part I contains papers presenting positive analyses of fairness preferences and beliefs, which are fundamental means through which fairness matters for economic models. Part II turns to normative analysis and the broad question of how law should reconcile fairness and efficiency considerations. Part III presents a sampling of legal and policy applications in which both fairness and efficiency considerations prove important. Along with an original introduction by the editors this is a must-have volume that will appeal to students, academics and practitioners who are interested in this exciting field.
