Working paper
Revealed meta-preferences : axiomatic foundations of normative assessments in the capability approach
- Abstract:
-
This paper explores the possibility of defining a non-utilitarian normative standard for assessments of welfare and deprivation. The paper contributes to this end in three ways. First, the paper formalises a key aspect of Prof. Sen’s critique of the assumption of consistent utility maximisation in the revealed preference theory. Secondly, the paper explores alternative formulations of the axiom of revealed preferences that are consistent with Prof. Sen’s critique and proposes a set of intuitive assumptions to characterise the relation between observed choices and underlying references in the absence of consistent utility maximisation. Finally, we use these to construct two alternative normative ranking rules that can be used in non-utilitarian welfare economics.
- Publication status:
- Published
- Peer review status:
- Reviewed (other)
Actions
Authors
- Publisher:
- Oxford Poverty & Human Development Initiative (OPHI)
- Series:
- OPHI working paper
- Publication date:
- 2011-01-01
- Edition:
- Publisher's version
- ISSN:
-
2040-8188
- Paper number:
- 48
- ISBN:
- 9781907194344
- Language:
-
English
- Keywords:
- UUID:
-
uuid:4ff9edf8-b31c-45c2-a5f1-c136a0d37254
- Local pid:
-
ora:9460
- Deposit date:
-
2014-12-02
Terms of use
- Copyright holder:
- Oxford Poverty & Human Development Initiative
- Copyright date:
- 2011
- Notes:
- Copyright © Oxford Poverty & Human Development Initiative 2011. This publication is copyright, however it may be reproduced without fee for teaching or non-profit purposes, but not for resale. Formal permission is required for all such uses, and will normally be granted immediately. For copying in any other circumstances, or for re-use in other publications, or for translation or adaptation, prior written permission must be obtained from OPHI and may be subject to a fee.
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