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The Fundamental Theorems of Welfare Economics in a Non-Welfaristic Approach

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Author Info
Tadenuma, Koichi
Xu, Yongsheng

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Abstract

This paper investigates extensions of the two fundamental theorems of welfare economics to the framework in which each agent is endowed with three types of preference relations: an allocation preference relation, an opportunity preference relation, and an overall preference relation. It is shown that, under certain conditions, the two theorems can be extended. It is also pointed out that the conditions underlying the positive results are restrictive.

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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/14504/1/pie_dp48.pdf
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Publisher Info
Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series Discussion Paper with number 48.

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Length: 18 p.
Date of creation: Jan 2002
Date of revision:
Handle: RePEc:hit:piedp1:48

Note: First Version: September 2001; This Version: January 2002
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Web page: http://cis.ier.hit-u.ac.jp/
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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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This page was last updated on 2009-11-20.

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