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作者：Chambers, Christopher P.
作者单位：University of California System; University of California San Diego
摘要：This note shows that for two social welfare functions which are inequality averse with respect to certainty equivalents, if one is more inequality averse for certainty equivalents than the other, the household preference induced by optimally allocating aggregate bundles according to this social welfare function is more risk averse than the other. We present examples showing that this comparative static can be reversed if absolute inequality aversion is dropped. We show that the utilitarian rul...
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作者：Gravel, Nicolas; Moyes, Patrick
作者单位：Centre National de la Recherche Scientifique (CNRS); Universite de Bordeaux; CNRS - Institute for Humanities & Social Sciences (INSHS); Aix-Marseille Universite
摘要：We provide foundations for robust normative evaluation of distributions of two attributes, one of which is cardinally measurable and transferable between individuals and the other is ordinal and non-transferable. The result that we establish takes the form of an analogue to the standard Hardy-Littlewood-Polya theorem for distributions of one cardinal attribute. More specifically, we identify the transformations of the distributions which guarantee that social welfare increases according to uti...
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作者：Mueller, Alfred; Scarsini, Marco
作者单位：Luiss Guido Carli University; Universitat Siegen; Hautes Etudes Commerciales (HEC) Paris
摘要：There exist several characterizations of concavity for univariate functions. One of them states that a function is concave if and only if it has nonincreasing differences. This definition provides a natural generalization of concavity for multivariate functions called inframodularity. lnframodular transfers are defined and it is shown that a finite lottery is preferred to another by all expected utility maximizers with an inframodular utility if and only if the first lottery can be obtained fr...
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作者：Galichon, Alfred; Henry, Marc
作者单位：Institut Polytechnique de Paris; Ecole Polytechnique; Universite de Montreal
摘要：We propose a multivariate extension of Yaari's dual theory of choice under risk. We show that a decision maker with a preference relation on multidimensional prospects that preserves first order stochastic dominance and satisfies comonotonic independence behaves as if evaluating prospects using a weighted sum of quantiles. Both the notions of quantiles and of comonotonicity are extended to the multivariate framework using optimal transportation maps. Finally, risk averse decision makers are ch...
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作者：Zuber, Stephane; Asheim, Geir B.
作者单位：Universite Paris Cite; Centre National de la Recherche Scientifique (CNRS); University of Oslo
摘要：The discounted utilitarian criterion for infinite horizon social choice has been criticized for treating generations unequally. We propose an extended rank-discounted utilitarian (ERDU) criterion instead. The criterion amounts to discounted utilitarianism on non-decreasing streams, but it treats all generations impartially: discounting becomes the mere expression of intergenerational inequality aversion. We show that more inequality averse ERDU societies have higher social discount rates when ...
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作者：Gajdos, Thibault; Weymark, John A.
作者单位：Vanderbilt University; Aix-Marseille Universite; Centre National de la Recherche Scientifique (CNRS)
摘要：This introduces the symposium on inequality and risk. (c) 2012 Elsevier Inc. All rights reserved.
