11 found
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  1.  45
    Welfare economics and bounded rationality: the case for model-based approaches.Paola Manzini & Marco Mariotti - 2014 - Journal of Economic Methodology 21 (4):343-360.
    In this paper, we examine the problems facing a policy maker who observes inconsistent choices made by agents who are boundedly rational. We contrast a model-less and a model-based approach to welfare economics. We make the case for the model-based approach and examine its advantages as well as some problematic issues associated with it.
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  2.  47
    On the Representation of Incomplete Preferences Over Risky Alternatives.Paola Manzini & Marco Mariotti - 2008 - Theory and Decision 65 (4):303-323.
    We study preferences over lotteries which do not necessarily satisfy completeness. We provide a characterization which generalizes Expected Utility theory. We show in particular that various sure-thing axioms are needed to guaranteee the representability in terms of utility intervals rather than numbers, and to provide a linear interval order representation which is very much in the spirit of Expected Utility theory.
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  3. Choice over Time.Paola Manzini & Marco Mariotti - 2009 - In Paul Anand, Prasanta Pattanaik & Clemens Puppe (eds.), Handbook of Rational and Social Choice. Oxford University Press.
     
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  4.  30
    Non-Interference Implies Equality.Marco Mariotti & Roberto Veneziani - 2009 - Social Choice and Welfare 32 (1):123-128.
    We propose a new principle of 'non-interference' applied to social welfare orderings. The principle, together with two other standard requirements, implies a strong egalitarian conclusion: the ordering must lexicographically maximize the welfare of the worst off.
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  5.  21
    Opportunities as Chances: Maximising the Probability that Everybody Succeeds.Marco Mariotti & Roberto Veneziani - 2018 - Economic Journal 128 (611):1609-1633.
    We model opportunities in society as ‘chances of success’, that is as they are commonly described by practitioners. We show that a classical liberal principle of justice together with a limited principle of social rationality imply that the social objective should be to maximise the chance that everybody in society succeeds. Technically, this means using a ‘Nash’ welfare criterion. A particular consequence is that the failure of even only one individual must be considered maximally detrimental. We also study a refinement (...)
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  6.  19
    On the impossibility of complete non-interference in Paretian social judgements.Marco Mariotti & Roberto Veneziani - 2013 - Journal of Economic Theory 148 (4):1689-1699.
    We study a principle of ‘Non-Interference’ in social welfare judgements. Non-Interference captures aspects of liberal approaches (particularly a Millian approach) to social decision making. In its full generality, Non-Interference produces an impossibility result: together with Weak Pareto Optimality, it implies that a social welfare ordering must be dictatorial. However, interesting restricted versions of Non-Interference are compatible with standard social welfare orderings.
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  7.  18
    Sufficientarianism.Jose Carlos Rodriguez Alcantud, Marco Mariotti & Roberto Veneziani - 2022 - Theoretical Economics 17 (4):1529-1557.
    Sufficientarianism is a prominent approach to distributive justice in political philosophy and in policy analyses. However, it is virtually absent from the formal normative economics literature. We analyze sufficientarianism axiomatically in the context of the allocation of 0–1 normalized well-being in society. We present three characterizations of the core sufficientarian criterion, which counts the number of agents who attain a “good enough” level of well-being. The main characterization captures the “hybrid” nature of the criterion, which embodies at the same time (...)
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  8.  15
    The Liberal Ethics of Non-Interference.Marco Mariotti & Roberto Veneziani - 2020 - British Journal of Political Science 50:567-584.
    We analyse the liberal ethics of noninterference in social choice. A liberal principle, capturing noninterfering views of society and inspired by John Stuart Mill's conception of liberty, is examined. The principle expresses the idea that society should not penalise individuals after changes in their situation that do not affect others. An impossibility for liberal approaches is highlighted: every social decision rule that satisfies unanimity and a general principle of noninterference must be dictatorial. This raises some important issues for liberal approaches (...)
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  9.  74
    Nash Bargaining Theory, Nonconvex Problems and Social Welfare Orderings.Vincenzo Denicolò & Marco Mariotti - 2000 - Theory and Decision 48 (4):351-358.
    In this paper we deal with the extension of Nash bargaining theory to nonconvex problems. By focussing on the Social Welfare Ordering associated with a bargaining solution, we characterize the symmetric Nash Bargaining Solution (NBS). Moreover, we obtain a unified method of proof of recent characterization results for the asymmetric single-valued NBS and the symmetric multivalued NBS, as well as their extensions to different domains.
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  10.  49
    An Ethical Interpretation of the Nash Choice Rule.Marco Mariotti - 2000 - Theory and Decision 49 (2):151-157.
    This paper provides an ethical intepretation of the Nash choice rule. In a setting in which (cardinal) utilities are interpersonally comparable, this procedure is characterised by an impartiality requirement and by the assumption that choices are not responsive to the agents' relative ability to convert resources into utility.
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  11.  42
    Choosing monetary sequences: theory and experimental evidence. [REVIEW]Paola Manzini, Marco Mariotti & Luigi Mittone - 2010 - Theory and Decision 69 (3):327-354.
    We formulate and investigate experimentally a model of how individuals choose between time sequences of monetary outcomes. The model assumes that a decision maker uses, sequentially, two criteria to screen options. Each criterion only permits a decision between some pairs of options, while the other options are incomparable according to that criterion. When the first criterion is not decisive, the decision maker resorts to the second criterion to select an alternative. We find that: (1) traditional economic models based on discounting (...)
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