Fairness and social risk II: aggregated analyses

Article Abstract:

A study examined fairness issues for decisions affecting the benefits received and the risks experienced by a population. It focuses on fairness for individuals as well as for homogenous groups within the population. This research also examines fairness for population benefit-risk profiles and for probability distributions over profiles. The concept of fairness is based on notions of envy among individuals and groups. Individual preferences are investigated to examine fairness when benefits and risks are aggregated within groups or over the population. The key to measures of envy is the means by which aggregates for one group can be assigned to another group after revisions are performed for various group sizes. Several fairness indices were generated for profiles and profile distributions based on envy measures.

Analysis, Fairness, Envy

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Choosing between risky prospects: the characterization of comparative statics results, and location independent risk

Article Abstract:

Research has been conducted on the influence of decision makers attitudes toward risk when they choose from a family of risky prospects. Decision makers choose a gamble higher in order when the family of risk prospects has been ordered so that the decision makers are more risk tolerant. The research report also characterizes the existence criteria for comparative static results.

Research, Decision-making, Decision making, Management, Risk assessment, Utility theory, Utility functions

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