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Paretian Welfare Judgements and Bergsonian Social Choice

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  • Suzumura, Kotaro

Abstract

Two distinct approaches can be identified in the new welfare economics. The school of thought based on the compensation principles attempted to see what can be said about social welfare without making interpersonal comparisons of well-being by extending the applicability of the Pareto principle through hypothetical compensatory payments between gainers and losers. The Bergson-Samuelson school of thought introduced the social welfare function as a formal method of introducing a Pareto-inclusive ethical belief on social welfare, whose policy implications the authors should theoretically explore. Synthesizing these two approaches, this paper identifies a condition under which the new welfare economics is logically impeccable.

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Bibliographic Info

Article provided by Royal Economic Society in its journal The Economic Journal.

Volume (Year): 109 (1999)
Issue (Month): 455 (April)
Pages: 204-20

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Handle: RePEc:ecj:econjl:v:109:y:1999:i:455:p:204-20

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Cited by:
  1. Athanasios Andrikopoulos, 2011. "Characterization of the existence of semicontinuous weak utilities for binary relations," Theory and Decision, Springer, vol. 70(1), pages 13-26, January.
  2. Marc Fleurbaey & Philippe Mongin, 2004. "The News of the Death of Welfare Economics is Greatly Exaggerated," Working Papers hal-00242931, HAL.
  3. Gowdy, John, 2005. "Toward a new welfare economics for sustainability," Ecological Economics, Elsevier, vol. 53(2), pages 211-222, April.
  4. John M. Gowdy, 2005. "Evolutionary Theory and Economic Policy with Reference to Sustainability," Rensselaer Working Papers in Economics 0505, Rensselaer Polytechnic Institute, Department of Economics.
  5. Suzumura, Kotaro & Xu, Yongsheng, 2002. "On Constrained Dual Recoverability Theorems," Discussion Paper 123, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
  6. Athanasios Andrikopoulos, 2007. "A representation of consistent binary relations," Spanish Economic Review, Springer, vol. 9(4), pages 299-307, December.
  7. Lahiri, Somdeb, 2009. "Acyclic social welfare," MPRA Paper 13687, University Library of Munich, Germany, revised 03 Mar 2009.
  8. Gowdy, John & Seidl, Irmi, 2004. "Economic man and selfish genes: the implications of group selection for economic valuation and policy," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 33(3), pages 343-358, July.

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