{"product_id":"fair-division-and-collective-welfare-the-mit-press-9780262633116","title":"Fair Division and Collective Welfare The MIT Press","description":"\u003cb\u003eBook Synopsis\u003c\/b\u003e\u003cbr\u003eThe concept of fair division is as old as civil society itself. Aristotle's equal treatment of equals was the first step toward a formal definition of distributive fairness. The concept of collective welfare, more than two centuries old, is a pillar of modern economic analysis. Reflecting fifty years of research, this book examines the contribution of modern microeconomic thinking to distributive justice. Taking the modern axiomatic approach, it compares normative arguments of distributive justice and their relation to efficiency and collective welfare.\u003cp\u003eThe book begins with the epistemological status of the axiomatic approach and the four classic principles of distributive justice: compensation, reward, exogenous rights, and fitness. It then presents the simple ideas of equal gains, equal losses, and proportional gains and losses. The book discusses three cardinal interpretations of collective welfare: Bentham's utilitarian proposal to maximize the sum of individual utilities, the Na\u003c\/p\u003e","brand":"MIT Press","offers":[{"title":"Default Title","offer_id":52195175661911,"sku":"9780262633116","price":38.0,"currency_code":"GBP","in_stock":true}],"url":"https:\/\/bookcurl.com\/products\/fair-division-and-collective-welfare-the-mit-press-9780262633116","provider":"Book Curl","version":"1.0","type":"link"}