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Fairness dilemmas arise when groups are faced with making decisions about how to share their resources, rewards, or payoffs. Since resources are limited, groups need to decide on fair ways of apportioning them out to their members. These fairness judgments are determined by procedural and distributive forms of social justice.
Equity, or economic equality, is the construct, concept or idea of fairness in economics and justice in the distribution of wealth, resources, and taxation within a society. . Equity is closely tied to taxation policies, welfare economics, and the discussions of public finance, influencing how resources are allocated among different segments of the populati
Common fairness criteria, such as proportionality and envy-freeness, judge the division from the point-of-view of a single agent, with a single preference relation. There are several ways to extend these criteria to fair division among groups. Unanimous fairness requires that the allocation be considered fair in the eyes of all agents in all ...
The Fairness Model proposes an alternative measure of equity/inequity to the relational partner or "comparison person" of standard equity theory. [citation needed] According to the Fairness Model, an individual judges the overall "fairness" of a relationship by comparing their inputs and outcomes with an internally derived standard.
Fair division is the problem in game theory of dividing a set of resources among several people who have an entitlement to them so that each person receives their due share. . That problem arises in various real-world settings such as division of inheritance, partnership dissolutions, divorce settlements, electronic frequency allocation, airport traffic management, and exploitation of Earth ...
The field of economics originally assumed that humans were rational economic actors, and as it became apparent that this was not the case, the field began to change. The research of social preferences in economics started with lab experiments in 1980, where experimental economists found subjects' behavior deviated systematically from self ...
The U.S. must change how it measures the well-being of its people - including gauging how much of a voice they feel they have in political outcomes - as part of a larger effort to reverse rising ...
Envy-freeness was introduced to the economics problem of resource allocation by Duncan Foley in 1967. [2] In this problem, rather than a single heterogeneous resource, there are several homogeneous resources. Envy-freeness by its own is easy to attain by just giving each person 1/n of each resource. The challenge, from an economic perspective ...