Abstract
We present an axiomatic model depicting the choice behavior of a self-interest seeking moral individual over random allocation procedures. Individual preferences are decomposed into a self-interest component and a component representing the individual's moral value judgment. Each component has a distinct utility representation, and the preference relation depicting the choice behavior is representable by a real-valued function defined on the components utilities. The utility representing the self-interest component is linear and the utility representing the individual's moral value judgment is quasi-concave. The addition of a hexagon condition implies that the utility representing the individual's preference is additively separable in the components utilities.
Original language | English |
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Pages (from-to) | 263-284 |
Number of pages | 22 |
Journal | Econometrica |
Volume | 70 |
Issue number | 1 |
DOIs | |
State | Published - 1 Jan 2002 |
Keywords
- Fairness
- Moral preferences
- Moral-value judgment
- Random allocation procedures
- Sense of justice
- Utility representation