Inequality aversion and separability in social risk evaluation

Fleurbaey, Marc;Zuber, Stéphane
(2011)

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  • Fleurbaey, MarcCERSES
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  • Zuber, StéphaneCERSES
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Abstract
This paper examines how to satisfy a separability condition related to “independence of the utilities of the dead” (Blackorby et al., 1995; Bommier and Zuber, 2008) in the class of “expected equally distributed equivalent” social orderings (Fleurbaey, 2010). It also inquires into the possibility to keep some aversion to inequality in this context. It is shown that the social welfare function must either be utilitarian or take a special multiplicative form. The multiplicative form is compatible with any degree of inequality aversion, but only under some constraints on the range of individual utilities.
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Fleurbaey, M., & Zuber, S. (2011). Inequality aversion and separability in social risk evaluation (CORE Discussion Paper 2011/23). https://hdl.handle.net/2078.5/208909