A Concern about Low Relative Income, and the Alignment of Utilitarianism with Egalitarianism

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URI: http://nbn-resolving.de/urn:nbn:de:bsz:21-opus-58757
http://hdl.handle.net/10900/47878
Dokumentart: ResearchPaper
Date: 2011
Source: University of Tübingen Working Papers in Economics and Finance ; 21
Language: English
Faculty: 6 Wirtschafts- und Sozialwissenschaftliche Fakultät
Department: Wirtschaftswissenschaften
DDC Classifikation: 330 - Economics
Keywords: Utilitarismus
Other Keywords:
Utilitarianism; Income equality; Social welfare maximization; Relative income
License: Publishing license excluding print on demand
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Abstract:

A utilitarian social planner who maximizes social welfare assigns the available income to those who are most efficient in converting income into utility. However, when individuals are concerned about their income falling behind the incomes of others, the optimal income distribution under utilitarianism is equality of incomes.

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