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Switch to: Citations
References in:
The importance of what people care about
Politics, Philosophy and Economics 11 (4):415-447 (2012)
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We model happiness as a measurement tool used to rank alternative actions. Evolution favors a happiness function that measures the individual’s success in relative terms. The optimal function, in particular, is based on a time-varying reference point –or performance benchmark –that is updated over time in a statistically optimal way in order to match the individual’s potential. Habits and peer comparisons arise as special cases of such updating process. This updating also results in a volatile level of happiness that continuously (...) |
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Rawls' Difference Principle asserts that a basic economic structure is just if it makes the worst off people as well off as is feasible. How well off someone is is to be measured by an ‘index’ of ‘primary social goods’. It is this index that gives content to the principle, and Rawls gives no adequate directions for constructing it. In this essay a version of the difference principle is proposed that fits much of what Rawls says, but that makes use (...) |
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In his Tanner Lecture of 1979 called ‘Equality of What?’ Amartya Sen asked what metric egalitarians should use to establish the extent to which their ideal is realized in a given society. What aspect of a person’s condition should count in a fundamental way for egalitarians, and not merely as cause of or evidence of or proxy for what they regard as fundamental? |
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Philosophers perennially debate the nature of the good for humans. Is it subjective or objective? That is to say, do the things that are intrinsically good for an agent, good for their own sakes and apart from further consequences, acquire this status only in virtue of how she happens to regard them? Or are there things that are good in themselves for an individual independently of her desires and attitudes toward them? The issue sounds recondite, but has been thought to (...) |
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Kasper Lippert-Rasmussen’s interesting criticisms of the ideal of equality of opportunity for welfare provide a welcome occasion for rethinking the requirements of egalitarian distributive justice.1 In the essay he criticizes I had proposed that insofar as we think distributive justice requires equality of any sort, we should conceive of distributive equality as equal opportunity provision. Roughly put, my suggestion was that equality of opportunity for welfare obtains among a group of people when all would have the same expected welfare over (...) |
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The nature of well-being is one of the most enduring and elusive subjects of human inquiry. Well-Being draws upon the latest scientific research to transform our understanding of this ancient question. With contributions from leading authorities in psychology, social psychology, and neuroscience, this volume presents the definitive account of current scientific efforts to understand human pleasure and pain, contentment and despair. The distinguished contributors to this volume combine a rigorous analysis of human sensations, emotions, and moods with a broad assessment (...) |
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This book presents the definitive exposition of 'prospect theory', a compelling alternative to the classical utility theory of choice. Building on the 1982 volume, Judgement Under Uncertainty, this book brings together seminal papers on prospect theory from economists, decision theorists, and psychologists, including the work of the late Amos Tversky, whose contributions are collected here for the first time. While remaining within a rational choice framework, prospect theory delivers more accurate, empirically verified predictions in key test cases, as well as (...) |
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This book develops some of the most important themes of Sen's works over the last decade. He argues in a rich and subtle approach that we should be concerned with people's capabilities rather than their resources or welfare. |
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Commodities and Capabilities presents a set of inter-related theses concerning the foundations of welfare economics, and in particular about the assessment of personal well-being and advantage. The argument presented focuses on the capability to function, i.e. what a person can do or can be, questioning in the process the more standard emphasis on opulence or on utility. In fact, a person's motivation behind choice is treated here as a parametric variable which may or may not coincide with the pursuit of (...) |
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This paper distinguishes an index ordering and a social ordering function as a simple way to formalize the indexing problem in the social choice framework. Two main conclusions are derived. First, the alleged dilemma between welfarism and perfectionism is shown to involve a third possibility, exemplified by the fairness approach to social choice. Second, the idea that an individual is better off than another whenever he has more (goods, functionings, etc.) in all dimensions, which is known to enter in conflict (...) |
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The book reviews the theory and concepts of happiness, explaining how these concepts underpin a line of research which is both an attempt to understand the determinants of happiness and a tool for understanding the effects of a host of phenomena on human well being. |
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This paper re-examines the welfare economics of risk. It singles out a class of criteria, the “expected equally-distributed equivalent”, as the unique class which avoids serious drawbacks of existing approaches. Such criteria behave like ex-post criteria when the final statistical distribution of wellbeing is known ex ante, and like ex-ante criteria when risk generates no inequality. The paper also provides a new result on the tension between inequality aversion and respect of individual ex ante preferences, in the vein of Harsanyi’s (...) |
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What is a fair distribution of resources and other goods when individuals are partly responsible for their achievements? This book develops a theory of fairness incorporating a concern for personal responsibility, opportunities and freedom. With a critical perspective, it makes accessible the recent developments in economics and philosophy that define social justice in terms of equal opportunities. It also proposes new perspectives and original ideas. The book separates mathematical sections from the rest of the text, so that the main concepts (...) |
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How do we measure happiness? Focusing on subjective measures as a proxy for welfare and well-being, this book finds ways to do that. Subjective measures have been used by psychologists, sociologists, political scientists, and, more recently, economists to answer a variety of scientifically and politically relevant questions. Van Praag, a pioneer in this field since 1971, and Ferrer-i-Carbonell present in this book a generally applicable methodology for the analysis of subjective satisfaction. Drawing on a range of surveys on people's satisfaction (...) |
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Professor McKenzie proposes and formulates a method composed of operational procedures designed to facilitate the evaluation of economic projects and policies. This method is discussed fully, illustrated by simple examples, and compared with alternative procedures. An outline of a computer program that enables readers to undertake their own calculations is included. In order to present the approach clearly, the author provides an exposition of the fundamental ideas and the main alternative approaches to the problem. These rely on various forms of (...) |
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