Unit 5- Property and Power: Mutual Gains and Conflict Flashcards
1
Q
Pareto dominant allocation definition:
A
Allocation A Pareto dominants allocation B if at least one party would be better of with A than B and no one would be worse off
2
Q
Pareto efficient definition:
A
An allocation where there is no alternative allocation where at least one person would be better off and no one would be worse off
3
Q
Substantive judgements of fairness definition:
A
Judgements based on the characteristics of the allocation itself, not how it was determined
4
Q
Procedural judgements of fairness definition:
A
An evaluation of an outcome based on how the allocation came about, and not the characteristics of the outcome itself
5
Q
Reservation option definition:
A
A person’s next best alternative
