We've got several thousand years of practice and precedent in arbitration, and are pretty reasonable people, I would not think we need to commit to a strictly egalitarian or utilitarian view of things, especially since being Christian I already believe in an absolute morality and our general inability to 100% accurately determine it. By and large, our legal system seems to use all of the above, since it does deal with fault and culpability, the greatest good for the greatest number, and the idea that all are equal under the law. Things work fairly well, from both a practical and ethical standpoint, I believe this is because we typically place 'reasonable' as paramount in decisions.