Amartya K. Sen, 1933-
It may be a slight exaggeration to claim that "Welfare Economics"
is but a synonym for Amartya Sen, but few economists
have taken that field as far, as seriously and as profoundly as
Sen. A perennial Nobel Prize candidate (he has been winning straw
polls among economists for several years running - and finally won the
Nobel in 1998), Sen is one of
the few modern academics that has commanded much respect and
recognition from all corners of the intellectual spectrum.
A student of Joan Robinson's at Cambridge, Sen nonetheless transcended
his roots to simultaneously embrace social
choice theory and
economic development - breaking the barrier between mathematized
"high theory" and "real-world" economics. It was a logical
marriage for Sen: the peasants and rural households which he
studied have economic modes of behavior which often contradict the
postulates of the "rational hedonist" that dominate economic
theory. In particular, certain collective enterprises (e.g. during
harvest season) often contradict individual rationality. In this
line, Sen exploited game-theoretic notions
to account for such collective behavior.
Nonetheless, the problem Sen identified through his research is the
common assumption in welfare economics of incomparable
interpersonal utilities. His famous 1970 treatise, Collective
Choice and Social Welfare, finds that this is indeed the
keystone in the famous "Arrow
Impossibility Theorem". Without it, Sen argued, the theorem can
fall; with it, the theorem is vacuous.
In another famous work (1970), Sen turned his methological sights
on the the Pareto-Optimality criteria - arguing that the assumption
of Pareto-optimality in welfare theory was not value-neutral
but rather contradicted the old J.S. Mill
notion of "liberalism" as the Paretian criteria has no safeguards
for "personal space".
Sen was no detached thinker, however: in 1972, he co-authored a
famous UN guideline for development project evalution which has
proven invaluable for many organizations. His work on poverty,
which has included innumerable theoretical insights, has also
proved fruitful in application.
- Information on Amartya Sen, (1)
Major works of Amartya K. Sen
- "On Optimizing the Rate of Saving", 1961, EJ
- "Distribution, Transitivity and LIttle's Welfare Criterion",
1963, EJ.
- "Preferences, Votes and the Transitivity of Majority
Decisions", 1964, RES
- "A Possibility Theorem on Majority Decisions", 1966,
Econometrica.
- "Labour Allocation in a Cooperative Enterprise", 1966,
RES
- "Peasants and Dualism with or without Surplus Labor", 1966,
JPE.
- "Isolation, Assurance and the Social Rate of Discount", 1967,
QJE.
- "Quasi-Transitivity, Rational Choice and Collective Decision",
1969, RES
- "Necessary and Sufficient Condition for Rational Choice Under
Majority Decision", with P.K. Pattanaik,
1969, JET
- Collective Choice and Social Welfare, 1970.
- "The Impossibility of a Paretian Liberal", 1970, JPE
- "Interpersonal Aggregation and Partial Comparability", 1970,
Econometrica.
- Guidelines for Project Evaluation with P.Dasgupta and
S. Marglin, 1972.
- "Behavior and the Concept of Preference", 1973,
Economica.
- On Economic Inequality, 1973.
- "Informational Bases of Alternative Welfare Approaches", 1974,
JPubE
- "Liberty, Unanimity and Rights", 1976, Economica.
- "Welfare Inequalities and Rawlsian Axiomatics", 1976,
Theory and Decision.
- "Poverty: An ordinal approach to measurement", 1976,
Econometrica,
- "Social Choice Theory: A re-examination", 1976,
Econometrica
- "Real National income", 1976, RES
- "On Weights and Measures: Informational constraints in social
welfare analysis", 1977, Econometrica.
- "Rational Fools: A critique of the behavioral foundations of
economic theory", 1977, Philosophy and Public Affairs.
- "Interpersonal Comparisons of Welfare", 1979, in Boskin,
editor, Economics and Human Welfare.
- "Personal Utilities and Public Judgments: Or what's wrong with
welfare economics", 1979, EJ
- "The Welfare Basis of Real Income Comparisons", 1979,
JEL.
- "The Sexual Division of Labor and the Working Class Family",
1980, RRPE.
- Poverty and Famines: An essay on entitlement and
depression, 1981.
- Choice, Welfare and Measurement, 1982.
- Utilitarianism and Beyond, with B. Williams, 1982.
- "Liberty and Social Choice", 1983, Journal of
Philosophy.
- Resources, Values and Development, 1984.
- Commodities and Capabilities, 1985.
- "Social Choice Theory", 1986, in Arrow and Intiligator,
editors, Handbook of Mathematical Economics, Vol. III.
- The Standard of Living, 1987.
- On Ethics and Economics, 1987.
Resources on A.K. Sen