AbstractIn a framework of preferences over lotteries, we show that an axiom system consisting of weakned versions of Arrowâs axioms has a unique solution. âRelative Utilitarianismâ consists of first normalizing individual von Neumann-Morgenstern utilities between 0 and 1 and then summing them.
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Bibliographic InfoPaper provided by Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) in its series CORE Discussion Papers RP with number -1398.
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Note: In : Econometrica, 67(3), 417-498, 1999
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