A Remark on Admissible Transformations for Interpersonally Comparable Utilities
AbstractIn this paper, the authors provide a characterization of the set of admissible transformations of utility profiles if it is assumed that the individual utilities are ordinally measurable and interpersonally comparable. Whereas earlier contributions (implicitly) assume that all individual utility functions have the same image, their results apply to arbitrary utility profiles. Furthermore, the authors discuss an example that demonstrates the sensitivity of some results in this area with respect to the assumptions that are made concerning the images of the individual utility functions. Copyright 1992 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
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Bibliographic InfoArticle provided by Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association in its journal International Economic Review.
Volume (Year): 33 (1992)
Issue (Month): 3 (August)
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