This paper analyzes social situations in the context of risk. A new argument is proposed in order to defend the ex-post approach against DiamondÕs (1967) famous critique of HarsanyiÕs (1955) utilitarian theorem. It leads to a characterization of the criterion consisting in computing the expected value of the “equal-equivalent”. Characterizations of the ex-post maximin and leximin criteria, as well as a variant of Harsanyi’s theorem, are also obtained. It is examined how to take account of concerns for ex-ante fairness within this ex-post approach. Related issues are also addressed, such as the rescue problem or preference for catastrophe avoidance.
Risk, Social Welfare, ex ante, ex post, Fairness, Harsanyi Theorem.
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