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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.
Inequity aversion (IA) is the preference for fairness and resistance to incidental inequalities. [1] The social sciences that study inequity aversion include sociology, economics, psychology, anthropology, and ethology. Researchers on inequity aversion aim to explain behaviors that are not purely driven by self-interests but fairness ...
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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
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 ...
Free and Equal: What Would a Fair Society Look Like? is a 2023 book by Daniel Chandler, an economist and philosopher at the London School of Economics and former policy advisor, arguing for the revitalisation of modern liberalism based on the theories of John Rawls.
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 ...
In the theory of fair division, the price of fairness (POF) is the ratio of the largest economic welfare attainable by a division to the economic welfare attained by a fair division. The POF is a quantitative measure of the loss of welfare that society has to take in order to guarantee fairness.