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Equality in microeconomic theory and beyond Maurice Salles Université de Caen CPNSS, LSE

Conférence Francqui The design of economic and political institutions Bruxelles, 24-25 juin 2013. Equality in microeconomic theory and beyond Maurice Salles Université de Caen CPNSS, LSE Murat Sertel Center, Bilgi University , Istanbul.

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Equality in microeconomic theory and beyond Maurice Salles Université de Caen CPNSS, LSE

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  1. Conférence FrancquiThe design of economic and political institutionsBruxelles, 24-25 juin 2013 Equality in microeconomictheory and beyond Maurice Salles Université de Caen CPNSS, LSE Murat Sertel Center, BilgiUniversity, Istanbul

  2. On Equality, Social ChoiceTheory, and Normative Economics 1. Equality in equilibriumtheory • 1.1. Exchange economies • 1.2. Economies with production 2. Equality in social choicetheory, political science … • 2.1. Individuals • 2.1.1. Anonymity • 2.1.2. Power • 2.2. Alternatives (neutrality)

  3. On Equality, Social ChoiceTheory, and Normative Economics 3. Equality in normative economics/social ethics • 3.1. Resources • 3.2. Opportunities • 3.3. Welfare • 3.4. Capabilities 4. Equality and the incidence of formalmethods • 4.1. Measuretheory • 4.2. Commodityspaces

  4. On Equality, Social ChoiceTheory, and Normative Economics • WhatisEquality? Equality of What? (Amartya Sen, Tanner Lectures 1979) • Equality/Inequality Robert Badinter Amartya Sen

  5. On Equality, Social ChoiceTheory, and Normative Economics • Equality in microeconomictheory (generalequilibriumtheory: initial endowments, preferences, shares of profits) Lionel McKenzie Gérard Debreu Kenneth Arrow Robert Aumann Lionel McKenzie Gérard Debreu Kenneth Arrow Robert Aumann

  6. On Equality, Social ChoiceTheory, and Normative Economics • Equality in social choicetheory, political science: individuals (power, influence, anonymity), alternatives/social states/candidates (neutrality) Lloyd Shapley Martin Shubik John Banzhaf III Lionel Penrose

  7. On Equality, Social ChoiceTheory, and Normative Economics • Equality in normative economics, social ethics: incomes, opportunities, well-beings • Philosophers John Rawls Ronald Dworkin G. A. Cohen

  8. On Equality, Social ChoiceTheory, and Normative Economics • Economists John Harsanyi Serge Kolm John Roemer

  9. On Equality, Social ChoiceTheory, and Normative Economics • and Marc Fleurbaey François Maniquet

  10. On Equality, Social ChoiceTheory, and Normative Economics • Equality in equilibriumtheory 1.1. Exchange economies • ℓ commodities. • ℝℓ+ commodityspace • n individuals (consumers) • Parameters : • ≿i: preferences of individual i • ei: initial endowments of individual i(∊ℝℓ+) • p : price vector

  11. On Equality, Social ChoiceTheory, and Normative Economics

  12. On Equality, Social ChoiceTheory, and Normative Economics

  13. On Equality, Social ChoiceTheory, and Normative Economics

  14. On Equality, Social ChoiceTheory, and Normative Economics 1.2. Economies with production • Consumers as shareholders • m production units • αij: share of consumer i in production unit j • wealth of consumer i: pei + Σjαijpyj • αij= 1/n

  15. On Equality, Social ChoiceTheory, and Normative Economics 2. Equality in social choicetheory, political science 2.1.Individuals 2.1.1 Anonymity Anonymityhighlighted by Donald Saari in his 2008 book (whenheconsiders conditions to beselected) • Majorityrule • Borda rule and othervotingrules (Dummett, Saari) • But Arrovianframework • Non-dictatorship • No veto • Extensions (Bordes and Salles, Duggan)

  16. On Equality, Social ChoiceTheory, and Normative Economics • 2.1.2 Power • Equal power • Political institutions (EU, UN…) • Power measures • A priori (treaties, constitutions …) • In practice (bargaining …) • Representativedemocracy (fairrepresentation, proportionalrule …) • Influence • Equal power or no power

  17. On Equality, Social ChoiceTheory, and Normative Economics 2.2. Alternatives: Neutrality • Votingrules (among the four conditions selected by Donald Saari) • Constitutions • Ties • Power and neutrality in the Arrovianframework (withindependence of irrelevant alternatives) • Power, neutrality, welfarism: Sen’simpossibilitytheorem • Individualrights

  18. On Equality, Social ChoiceTheory, and Normative Economics 3. Equality in normative economics/social ethics 3.1. Resources • Primarygoods (Rawls) • Resources à la Dworkin • Incomes (resources as generallyconsidered in economics) • Basic incomes (Van Parijs) • ELIE: Equal-Labor IncomeEqualisation (Kolm) Equalisationlaborisk yi=wiℓi+ ti ti= k ( w ⎼ wi )

  19. On Equality, Social ChoiceTheory, and Normative Economics 3.2. Opportunities (Roemer) • Discrimination • Handicap • Skills (Fleurbaey, Maniquet) 3.3. Welfare (Dworkin and others) 3.4. Capabilities (Sen)

  20. On Equality, Social ChoiceTheory, and Normative Economics 4. Equality and the incidence of formalmethods 4.1. Measuretheory 4.2 Commodityspaces

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