Rationality, markets, and morals: RMM Band 4 (2013)
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Auflistung Rationality, markets, and morals: RMM Band 4 (2013) nach Autor:in "Kliemt, Hartmut"
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Item Fairness That Money Can Buy. Procedural Egalitarianism in Practice(2013) Güth, Werner; Kliemt, HartmutContrary to communitarian market criticism institutions relying on money and bidding can strengthen faculties of `self-governance'. Securing procedurally egalitarian bidding on the basis of declared monetary evaluations guarantees that all realized changes of a status quo are in an `objective' (pecuniary) sense equally advantageous for all members of the community. We show how to use this idea in the context of Elinor Ostrom type common(s) projects. Empirical evidence on `procedurally fair bidding' is presented. The practical scope and limits of procedural egalitarianism need further empirical exploration but money may be the best means to express moral values in `communitarian consent'.