Application Of Property Theories Of The Beacon Hill

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II. Application of Property Theories A. Utilitarianism The Utilitarian theory of property seeks to maximize the population’s utility when a property decision is made, the greatest good for the greatest amount of people. To apply this theory, one must define and aggregate a measure of utility comparable for all people in a cost-benefit analysis. A popular measure of utility, under the welfarist economics utilitarian view, is utilizing the price a person is willing to pay for a good or service as the value to be aggregated in the cost-benefit analysis. However, a strict welfarist utilitarian analysis will not work in this instance because welfarisim is too individualistic and decisions regarding public property and disability access will…show more content…
Price seems to be the best measure for utility as almost anything can be commodified and priced by members of the population. Furthermore, other economic measures, such as how a decision increases a person’s wealth, will not reach the full population affected by this decision, as some parties, like tourists, do not have their wealth increased by such a public property decision. Determining the value that individuals place on the current handicapped ramps and surrounding sidewalks in Beacon Hill, necessitates looking into the different groups of interested individuals affected by the Beacon Hill handicapped ramp decision. Individuals with disabilities that require accessible handicapped ramps pose a problem for determining the values that these individuals would give the Beacon Hill handicapped ramp and surrounding sidewalks. Beacon Hill serves many different functions for people. For those persons with disabilities who live on Beacon Hill, updated handicapped ramps could mean the difference having access to their homes or having to move. For this group it is easy to determine a value for this analysis, as the price they are willing to pay to live in the area. Beacon Hill is populated with various government offices and private businesses, therefore a cost-benefit analysis must factor in the value that individuals
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