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Bolker-Jeffrey Expected Utility Theory and Axiomatic Utilitarianism

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Author Info
Broome, John

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Abstract

This paper introduces the Bolker-Jeffrey version of expected utility theory, which differs in several important respects from the versions commonly used by economists. Within the Bolker-Jeffrey theory, the paper proves a theorem first proved by J. Harsanyi: if social preferences are coherent and Paretian, and individual preferences are coherent, then social utility can be taken to be the sum of individual utilities. But the paper shows that in the Bolker-Jeffrey theory the proof required very stringent assumptions. It assess the significance of this fact. Copyright 1990 by The Review of Economic Studies Limited.

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Publisher Info
Article provided by Blackwell Publishing in its journal Review of Economic Studies.

Volume (Year): 57 (1990)
Issue (Month): 3 (July)
Pages: 477-502
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Handle: RePEc:bla:restud:v:57:y:1990:i:3:p:477-502

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  1. BLACKORBY, Charles & BOSSERT, Walter & DONALDSON, David, 2003. "Harsanyi’s Social Aggregation Theorem : A Multi-Profile Approach with Variable-Population Extensions," Cahiers de recherche 03-2003, Centre interuniversitaire de recherche en économie quantitative, CIREQ. [Downloadable!]
    Other versions:
  2. Hild, Matthias, 2001. "The Instability of Robust Aggregation," Working Papers 1113, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
  3. Richard Bradley, 2003. "Axiomatic Bayesian Utilitarianism," Working Papers hal-00242956_v1, HAL. [Downloadable!]
  4. Hild, Matthias, 2001. "Stable Aggregation of Preferences," Working Papers 1112, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
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