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‘Fair’ Welfare Comparisons with Heterogeneous Tastes: Subjective versus Revealed Preferences


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Title: ‘Fair’ Welfare Comparisons with Heterogeneous Tastes: Subjective versus Revealed Preferences
Authors: Akay, Alpaslan
Bargain, Olivier B.
Jara, H. Xavier
Issue Date: Sep-2017
Extent: 45
Publication type: report
Organization: Dept. of Economics, University of Gothenburg
Series/Report no.: Working Papers in Economics
707
Keywords: fair allocation
money metric
decision utility
experienced utility
labor supply
subjective well-being
Abstract: Multidimensional welfare analysis has recently been revived by money-metric measures based on explicit fairness principles and the respect of individual preferences. To opera- tionalize this approach, preference heterogeneity can be inferred from the observation of individual choices (revealed preferences) or from self-declared satisfaction following these choices (subjective well-being). We question whether using one or the other method makes a di¤erence for welfare analysis based on incom... more
ISSN: 1403-2465
Description: JEL: C35, C90, D60, D63, D71, H24, H31, J22
URI: http://hdl.handle.net/2077/53738
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