Treading a fine line: characterizations and impossibilities for liberal principles in infinitely-lived societies

Lombardi, M. and Veneziani, R. (2012) Treading a fine line: characterizations and impossibilities for liberal principles in infinitely-lived societies. B.E. Journal of Theoretical Economics, 12(1), pp. 1-16. (doi:10.1515/1935-1704.1899)

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Abstract

This paper extends the analysis of liberal principles in social choice recently proposed by Mariotti and Veneziani (2009a) to infinitely-lived societies. First, some novel characterisations of inegalitarian leximax social welfare relations are derived based on the Individual Benefit Principle (IBP), which incorporates a liberal, non-interfering view of society. This is surprising because the IBP does not explicitly incorporate any preference for inequality, nor does it assign priority to well-off members of society. Second, some impossibility results are derived that highlight a general tension between standard fairness and efficiency axioms in social choice, and a liberal Principle of Non-Interference that generalises IBP.

Item Type:Articles
Status:Published
Refereed:Yes
Glasgow Author(s) Enlighten ID:Lombardi, Dr Michele
Authors: Lombardi, M., and Veneziani, R.
College/School:College of Social Sciences > Adam Smith Business School > Economics
Journal Name:B.E. Journal of Theoretical Economics
Publisher:De Gruyter
ISSN:1935-1704
ISSN (Online):1935-1704
Published Online:21 July 2012

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