Equally-distributed equivalent utility, ex post egalitarianism and utilitarianism
AbstractWe provide an axiomatization of expected equally-distributed equivalent-utility social welfare functions in the context of Harsanyiʼs impartial observer theorem. For this family of social welfare functions, we show what additional axiom is necessary and sufficient for the observer to exhibit aversion to ex post inequality. We also relate this axiomatization to our axiomatization in a companion paper of generalized utilitarian social welfare functions. Given certain richness assumptions, the only social welfare functions that belong to both families are the utilitarian.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 147 (2012)
Issue (Month): 4 ()
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Web page: http://www.elsevier.com/locate/inca/622869
Utilitarianism; Harsanyiʼs (impartial) observer; Social welfare function; Ex post egalitarianism;
Find related papers by JEL classification:
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
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