{
 "@context": "https://schema.org",
 "@type": "DefinedTerm",
 "@id": "https://wulfkaal.github.io/entities/social-welfare",
 "identifier": "kaal:entity:social-welfare",
 "name": "Social welfare",
 "termCode": "social-welfare",
 "inDefinedTermSet": {
  "@id": "https://wulfkaal.github.io/entities/index.json"
 },
 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
 },
 "dateModified": "2026-07-29",
 "canonicalForm": "https://wulfkaal.github.io/entities/social-welfare.md",
 "sha256": "b56ddf9e3da0229e8c04687901669b3755b1ff13ecbd5e04f4d82ceb0f8a659b",
 "additionalProperty": [
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   "name": "status",
   "value": "derived"
  },
  {
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   "name": "claim_count",
   "value": 3
  },
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   "name": "work_count",
   "value": 2
  },
  {
   "@type": "PropertyValue",
   "name": "year_span",
   "value": [
    "2012",
    "2020"
   ]
  },
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   "value": 0
  }
 ],
 "subjectOf": [
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1998455-028",
   "identifier": "kaal:claim:1998455-028",
   "text": "Contingent capital securities approximate the characteristics of a quasi-public good: just as ships cannot readily be excluded from a lighthouse, systemically important institutions benefit from the issuance of contingent capital by other such institutions whenever the design minimizes systemic risk and contagion.",
   "abstract": "CCS could have the potential to approximate quasi-public good characteristics. Similar to the difficulty of excluding ships from using the services of a lighthouse,219 SIFIs may benefit from the issuance of CCS by other SIFIs if the CCS design min- imizes systemic risk and contagion.",
   "citation": "Wulf A. Kaal, Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance (2012). SSRN: https://ssrn.com/abstract=1998455",
   "datePublished": "2012",
   "claim_type": "definitional",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "only if the CCS design actually minimizes systemic risk and contagion"
   ],
   "source_pdf_sha256": "1c16ff10a284469ba15fb7ba5523449b917388ee692d9b394f9e8c094544e32c",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1998455-029",
   "identifier": "kaal:claim:1998455-029",
   "text": "The social welfare maximization potential of contingent capital securities is lower if their design features are left entirely to private ordering, because private parties do not necessarily structure those features with a view toward the common good, the avoidance of future bailouts, or the limitation of systemic risk and contagion.",
   "abstract": "The social welfare maximization potential of CCS could be lower if the design features are entirely left to private ordering.",
   "citation": "Wulf A. Kaal, Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance (2012). SSRN: https://ssrn.com/abstract=1998455",
   "datePublished": "2012",
   "claim_type": "failure",
   "confidence": "argued",
   "is_failure_mode": true,
   "scope_conditions": [
    "where regulators leave CCS design features entirely to industry groups and private parties"
   ],
   "source_pdf_sha256": "1c16ff10a284469ba15fb7ba5523449b917388ee692d9b394f9e8c094544e32c",
   "status": "current"
  },
  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/3709041-001",
   "identifier": "kaal:claim:3709041-001",
   "text": "Centralized coordination of behavior for the common good risks undermining individual effort, whereas blockchain technology's autonomous and anonymous decentralized coordination of individual action can deliver common good outcomes without suppressing individualism and its welfare enhancing effects.",
   "abstract": "While centralized common good coordination of human behavior risks undermining individual effort, blockchain technology's autonomous and anonymous decentralized network coordination of individual human action can help overcome the threat to individualism and its welfare enhancing effects.",
   "citation": "Kaal, Blockchain Technology for Good (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3709041",
   "datePublished": "2020",
   "claim_type": "mechanism",
   "confidence": "argued",
   "is_failure_mode": false,
   "scope_conditions": [
    "applies where common good objectives require coordinating many individuals"
   ],
   "source_pdf_sha256": "5216a7bca45a48e3bef11ec524936e66af737c0fd66271e9f6866dc20a4482cc",
   "status": "current"
  }
 ],
 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'social-welfare'. Derived node: a roster, not an adjudicated definition."
}