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Francqui The design of economic and political institutions Bruxelles 2425 juin 2013 Equality in microeconomic theory and beyond Maurice Salles Université de Caen CPNSS LSE ID: 551135

theory equality economics social equality theory social economics choice normative power political neutrality economies production individuals anonymity john alternatives

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Slide1

Conférence FrancquiThe design of economic and political institutionsBruxelles, 24-25 juin 2013

Equality

in

microeconomic

theory

and

beyond

Maurice Salles

Université de Caen

CPNSS, LSE

Murat

Sertel

Center,

Bilgi

University

, IstanbulSlide2

On Equality, Social Choice Theory, and Normative Economics

1.

Equality

in

equilibrium

theory

1.1. Exchange

economies

1.2. Economies

with

production

2.

Equality

in social

choice

theory

,

political

science …

2.1.

Individuals

2.1.1.

Anonymity

2.1.2. Power

2.2. Alternatives (

neutrality

)Slide3

On Equality, Social Choice Theory, 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

formal

methods

4.1.

Measure

theory

4.2.

Commodity

spacesSlide4

On Equality, Social Choice Theory

, and Normative

Economics

What

is

Equality? Equality of What? (Amartya Sen, Tanner Lectures 1979)Equality/Inequality Robert Badinter Amartya SenSlide5

On Equality, Social Choice Theory, and Normative Economics

Equality

in

microeconomic

theory

(

general equilibrium theory: initial endowments, preferences, shares of profits) Lionel McKenzie Gérard Debreu Kenneth Arrow Robert Aumann Lionel McKenzie Gérard Debreu Kenneth Arrow Robert AumannSlide6

On Equality, Social Choice Theory, and Normative

Economics

Equality

in social

c

hoice

theory, political science: individuals (power, influence, anonymity), alternatives/social states/candidates (neutrality) Lloyd Shapley Martin Shubik John Banzhaf III Lionel PenroseSlide7

On Equality, Social Choice Theory, and Normative

Economics

Equality

in normative

economics

, social

ethics

: incomes, opportunities, well-beingsPhilosophers John Rawls Ronald Dworkin G. A. CohenSlide8

On Equality, Social Choice Theory, and Normative Economics

Economists

John Harsanyi Serge

Kolm

John

RoemerSlide9

On Equality, Social Choice Theory, and Normative Economics

a

nd

Marc

Fleurbaey

François

ManiquetSlide10

On Equality, Social Choice Theory, and Normative

Economics

Equality

in

equilibrium

theory

1.1. Exchange economiesℓ commodities.

ℝℓ

+

commodity

spacen

individuals (consumers)

Parameters

 :

i

 

: preferences of individual

i

e

i

: initial endowments of individual

i

(∊ℝ

+

)

p

: price vectorSlide11

On Equality, Social Choice Theory, and Normative EconomicsSlide12

On Equality, Social Choice Theory, and Normative

EconomicsSlide13

On Equality, Social Choice Theory, and Normative

EconomicsSlide14

On Equality, Social Choice Theory, and Normative Economics

1.2.

Economies

with

production

Consumers

as

share holdersm production unitsαij

: share of consumer i

in production unit

j

wealth of consumer

i

: pei + Σ

j

α

ij

py

j

α

ij

=

1/nSlide15

On Equality, Social Choice Theory, and Normative Economics

2.

Equality

in social

choice

theory

, political science2.1. Individuals 2.1.1 Anonymity

Anonymity highlighted by Donald Saari

in

his

2008 book (

when

he considers conditions to be selected)Majority

ruleBorda rule and other voting rules

(

Dummett

,

Saari

)

But

Arrovian

framework

Non-

dictatorship

No veto

Extensions (Bordes and Salles,

Duggan

)Slide16

On Equality, Social Choice Theory, and Normative Economics

2.1.2 Power

Equal

power

Political

institutions (EU, UN…)

Power

measuresA priori (treaties, constitutions …)In practice (bargaining …)Representative democracy (fair representation, proportional rule …)Influence

Equal power or no powerSlide17

On Equality, Social Choice Theory, and Normative Economics

2.2.

Alternatives:

Neutrality

Voting

rules

(among the four conditions selected by Donald Saari)ConstitutionsTiesPower and neutrality in the Arrovian

framework (with independence of

irrelevant

alternatives)

Power,

neutrality

, welfarism: Sen’s impossibility theoremIndividual

rightsSlide18

On Equality, Social Choice Theory, and Normative Economics

3.

Equality

in normative

economics

/social

ethics

3.1. ResourcesPrimary goods (Rawls)Resources à la DworkinIncomes (

resources as generally considered in

economics

)

Basic

incomes (Van

Parijs)ELIE: Equal-Labor Income Equalisation (Kolm

) Equalisation labor is k

y

i

=

w

i

i

+

t

i

t

i

= k (

w

w

i

)Slide19

On Equality, Social Choice Theory, and Normative Economics

3.2.

Opportunities

(

Roemer

)

D

iscriminationHandicapSkills (Fleurbaey, Maniquet)3.3. Welfare (Dworkin and others)3.4.

Capabilities (Sen)Slide20

On Equality, Social Choice Theory, and Normative Economics

4.

Equality

and the incidence of

formal

methods

4.1. Measure theory4.2 Commodity

spaces