Works
- Cardinal Utility in Welfare Economics and in the Theory of Risk-Taking, Journal of Political Economy, 1953
In Thinking Tools
Known for
A Hungarian-American economist and 1994 Nobel laureate in economics who argued that a person choosing a social arrangement without knowing which position they would occupy would choose by expected utility, an early form of the thought experiment later called the veil of ignorance.
Caveat: John Rawls coined the phrase veil of ignorance (A Theory of Justice, 1971) and drew the opposite conclusion; William Vickrey had described a similar thought experiment in 1945.