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Revealed preferences with plural motives: axiomatic foundations of normative assessments in non-utilitarian welfare economics.

Authors :
Silva-Leander, Sebastian
Seth, Suman
Source :
Social Choice & Welfare. Mar2017, Vol. 48 Issue 3, p505-517. 13p.
Publication Year :
2017

Abstract

This paper explores the possibility of defining a non-utilitarian normative standard for assessments of welfare and deprivation. The paper formalises a key aspect of Amartya Sen's critique of the assumption of consistent utility-maximisation in the revealed preference theory and proposes a generalisation of the standard Samuelsonian choice model for the case in which choices are based on plural motives (here, self-interested and moral motives). Based on a set of intuitive assumptions about the way in which unobservable motives are linked to observable choices, we then construct an alternative normative ranking rule that can be used in non-utilitarian welfare economics to rank social outcomes or provide a normative basis for the construction of composite indices, for instance. [ABSTRACT FROM AUTHOR]

Details

Language :
English
ISSN :
01761714
Volume :
48
Issue :
3
Database :
Academic Search Index
Journal :
Social Choice & Welfare
Publication Type :
Academic Journal
Accession number :
121625607
Full Text :
https://doi.org/10.1007/s00355-016-1020-x