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Fairness That Money Can Buy. Procedural Egalitarianism in Practice

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04_Article_Gueth_Kliemt.pdf (105.2Kb)
Date
2013
Author
Güth, Werner
Kliemt, Hartmut
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http://dx.doi.org/10.22029/jlupub-400
Abstract

Contrary 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'.

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Rationality, markets, and morals: RMM 4 (2013), 28-38

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  • Rationality, markets, and morals: RMM Band 4 (2013)

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