Equity - In Theory and Practice

ISBN-10: 0691044643
ISBN-13: 9780691044644
Edition: 1994
Authors: H. Peyton Young
List price: $67.95 Buy it from $4.38
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Description: Governments and institutions, perhaps even more than markets, determine who gets what in our society. They make the crucial choices about who pays the taxes, who gets into college, who gets medical care, who gets drafted, where the hazardous waste  More...

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Book details

List price: $67.95
Copyright year: 1994
Publisher: Princeton University Press
Publication date: 8/27/1995
Binding: Paperback
Pages: 254
Size: 6.00" wide x 9.50" long x 0.75" tall
Weight: 0.792

Governments and institutions, perhaps even more than markets, determine who gets what in our society. They make the crucial choices about who pays the taxes, who gets into college, who gets medical care, who gets drafted, where the hazardous waste dump is sited, and how much we pay for public services. Debate about these issues inevitably centers on the question of whether the solution is "fair." In this book, H. Peyton Young offers a systematic explanation of what we mean by fairness in distributing public resources and burdens, and applies the theory to actual cases.

Preface
Acknowledgments
Overview
The Division of Common Property
Micro vs. Macro Justice
The Terms of Discussion
Normative Theories of Justice: Aristotle, Bentham, and Rawls
No Envy
Distributive Judgments and Interpersonal Comparisons
Why Classical Formulas Fail
The Priority Principle
The Consistency Principle
When Proportionality Fails for Divisible Goods
Games of Fair Division
Equity and Efficiency
Equity and Priority
Methods for Distributing Indivisible Goods
The Demobilization of U.S. Soldiers at the End of World War II
The Point System for Allocating Kidneys in the United States
General Principles
Point Systems
Participatory Equity
Equity as Near as May Be
The Apportionment of Indivisible Goods
Apportionment in the United States
Statement of the Problem
The Methods of Hamilton and Jefferson
The Bias of Jefferson's Method
The Methods of Daniel Webster and John Quincy Adams
The Standard Two-State Solution and Its Generalization
The Alabama Paradox
The Method of Joseph Hill
Bias
Consistency and Priority
Staying within the Quota
The Population Paradox
Equity, Equality, Proportionality
Aristotle's Equity Principle
Claims Problems
The Contested Garment Rule
The Shapley Value
An Inconsistency in the Shapley Value
Maimonides' Rule
Gain vs. Loss
Varieties of Equality
Equity, Priority, and Consistency
Incentive Effects
Cost Sharing
Sharing Gains from Cooperation
A Cost-Sharing Problem between Two Towns
A Cost-Sharing Problem among Three Towns
The Cooperative Game Model
The Tennessee Valley Authority
The Decomposition Principle
The Shapley Value
Equitable Core Solutions: The Nucleolus
Progressive Taxation
Historical Background
The Progressivity Principle
The U.S. Federal Income Tax
Redressing Inequality
The Benefit Theory
Ability to Pay and Equal Sacrifice
The Effect of Progressive Taxation on Work Effort
Optimal Taxation
The Effect of Taxation on Risk-Taking
Fair Bargains
Bargaining Over Common Property
The Bargaining Set
The Coordination Problem
Classical Bargaining Solutions: Nash and Kalai-Smorodinsky
Framing Effects
Equity Criteria Based on Tangible Claims
Experimental Results on Bargaining
Empirical Evidence from Sharecropping Practices
Fair Process
Games of Fair Division
Auctioning Indivisibles
Superior and Inferior Modes of Division
Divide and Choose
The Divider's Advantage
Removing the Divider's Advantage by Lottery
Successively Splitting the Difference: The Raiffa Solution
Alternating Offers: The Nash Solution
Bidding to Be Divider: The Egalitarian Solution
Equity, Envy, and Efficiency
Fair and Efficient Exchange
Transparent Inequity
Egalitarianism
A Difficulty with Egalitarianism
Competitive Allocations
The Equity of Competitive Allocation
The Competitive Standard of Comparison
Enlarging the Pie
An Application: Assigning Students to Dormitories
Restricting the Domain of Exchange
Conclusion
Appendix: The Mathematical Theory of Equity
Two Fundamental Principles
Zero-One Allocations
Opinion Aggregation
Integer Allocation
Claims and Liabilities
Cooperative Games
Bargaining
Multiple Goods
Bibliographical Notes
Bibliography
Index

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