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001385960 1001_ $$aMoulin, Hervé.
001385960 24510 $$aFair division and collective welfare /$$cHervé Moulin.
001385960 260__ $$aCambridge, Mass. :$$bMIT Press,$$c©2003.
001385960 300__ $$a1 online resource (vi, 289 pages) :$$billustrations
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001385960 337__ $$acomputer$$bc$$2rdamedia
001385960 338__ $$aonline resource$$bcr$$2rdacarrier
001385960 506__ $$aAccess limited to authorized users.
001385960 520__ $$aThe concept of fair division is as old as civil society itself. Aristotle's "equal treatment of equals" was the first step toward a formal definition of distributive fairness. The concept of collective welfare, more than two centuries old, is a pillar of modern economic analysis. Reflecting fifty years of research, this book examines the contribution of modern microeconomic thinking to distributive justice. Taking the modern axiomatic approach, it compares normative arguments of distributive justice and their relation to efficiency and collective welfare.The book begins with the epistemological status of the axiomatic approach and the four classic principles of distributive justice: compensation, reward, exogenous rights, and fitness. It then presents the simple ideas of equal gains, equal losses, and proportional gains and losses. The book discusses three cardinal interpretations of collective welfare: Bentham's "utilitarian" proposal to maximize the sum of individual utilities, the Nash product, and the egalitarian leximin ordering. It also discusses the two main ordinal definitions of collective welfare: the majority relation and the Borda scoring method.The Shapley value is the single most important contribution of game theory to distributive justice. A formula to divide jointly produced costs or benefits fairly, it is especially useful when the pattern of externalities renders useless the simple ideas of equality and proportionality. The book ends with two versatile methods for dividing commodities efficiently and fairly when only ordinal preferences matter: competitive equilibrium with equal incomes and egalitarian equivalence. The book contains a wealth of empirical examples and exercises.
001385960 588__ $$aOCLC-licensed vendor bibliographic record.
001385960 650_0 $$aWelfare economics.
001385960 650_0 $$aEquality$$xEconomic aspects.
001385960 650_0 $$aIncome distribution.
001385960 650_0 $$aWealth$$xMoral and ethical aspects.
001385960 650_0 $$aDistributive justice.
001385960 653__ $$aECONOMICS/Public Economics
001385960 655_0 $$aElectronic books
001385960 852__ $$bebk
001385960 85640 $$3MIT Press$$uhttps://univsouthin.idm.oclc.org/login?url=https://doi.org/10.7551/mitpress/2954.001.0001?locatt=mode:legacy$$zOnline Access through The MIT Press Direct
001385960 85642 $$3OCLC metadata license agreement$$uhttp://www.oclc.org/content/dam/oclc/forms/terms/vbrl-201703.pdf
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001385960 980__ $$aBIB
001385960 980__ $$aEBOOK
001385960 982__ $$aEbook
001385960 983__ $$aOnline