Fairness : A Critique to the Utilitarian Approach ∗

  title={Fairness : A Critique to the Utilitarian Approach ∗},
  author={Philipp Kircher and Sandra Ludwig and Alvaro Sandroni},
We address a basic difficulty with incorporating fairness into standard utilitarian choice theories. Standard utilitarian theories evaluate lotteries according to the (weighted) utility over final outcomes and assume in particular that a lottery is never preferred over getting the most preferred underlying outcome with certainty. While nearly universally adopted in economics (including behavioral economics) and appealing for choices among consumption goods, this approach is problematic when… CONTINUE READING
6 Citations
32 References
Similar Papers


Publications referenced by this paper.
Showing 1-10 of 32 references

Other regarding preferences in environments of risk,”mimeo

  • A. Borah
  • University of Pennsylvania
  • 2009
Highly Influential
3 Excerpts

Fehr - Schmidt process fairness and dynamic consistency

  • S. Trautmann
  • Journal of Economic Psychology
  • 2009
1 Excerpt

Fehr-Schmidt process fairness and dynamic consistency,”Journal

  • S. Trautmann
  • Economic Psychology
  • 2009
1 Excerpt

Social decision theory: choosing within and between groups,

  • F. Maccheroni, M. Marinacci, A. Rustichini
  • 2008
1 Excerpt

Axiomatic reference-dependence in behavior toward others and toward risk

  • W. Neilson
  • Economic Theory,
  • 2006
1 Excerpt

Similar Papers

Loading similar papers…