Equity Judgements Elicited Through Experiments: An Econometric Examination
Utilitarianism and Rawisianism stand out as prominent schools of social welfare assessment. According to the utilitarian school, welfare judgements should be based on how policies affect the sum of individual utilities. By contrast, according to the maximin principle of Rawls (1971), the Rawlsian school claims that welfare judgements should be based on how policies affect the utility of the worst-off individual in society.
KeywordsIncome Dition Arena Decid Stake
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