|
Archivo Abierto Institucional de la Universidad Carlos III de Madrid >
Investigación >
Departamentos >
Departamento de Economía >
DE - Working Papers. Economics. WE >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10016/3912
|
| Title: | Extended paretian rules and relative utilitarianism |
| Author(s): | Dhillon, Amrita |
| Publisher: | Universidad Carlos III de Madrid. Departamento de Economía |
| Issued date: | Jul-1995 |
| URI: | http://hdl.handle.net/10016/3912 |
| Abstract: | This paper introduces the 'Extended Pareto' axiom on Social welfare functions and gives a characterization of the axiom when it is assumed that the Social Welfare Functions that satisfy it in a framework of preferences over lotteries also satisfy the restrictions (on the domain and range of preferences) implied by the von-Neumann-Morgenstern axioms. With the addition of two other axioms: Anonymity and Weak IIA* it is shown that there is a unique Social Welfare Function called Relative Utilitarianism that consists of normalizing individual utilities between zero and one and then adding them. |
| Serie / Nº.: | UC3M Working Paper. Economics;
1995-24-15 |
| Keywords: | Group Preferences
Multi-profile |
| Appears in Collections: | Economists Online
DE - Working Papers. Economics. WE
|
This item is licensed under a Creative Commons License
Items in E-Archivo are protected by copyright, with all rights reserved, unless otherwise indicated.
|
