On Ordered Weighted Averaging Social Optima
AbstractIn this paper, we look at the classical problem of aggregating individual utilities and study social orderings which are based on the concept of Ordered Weighted Averaging (OWA) Aggregating Operator. In these social orderings, called OWA social welfare functions (swf), weights are assigned a priori to the positions in the social ranking and, for every possible alternative, the total welfare is calculated as a weighted sum in which the weight corresponding to the k-th position multiplies the utility in the k-th position. In the a–OWA swf, the utility in the k-th position is the k-th smallest value assumed by the utility functions, whereas, in the b–OWA swf, it is the utility of the k-th poorest individual. We emphasize the differences between the two concepts, analyze the continuity issue and provide maximum points existence results.
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Bibliographic InfoPaper provided by Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy in its series CSEF Working Papers with number 319.
Date of creation: 27 Jul 2012
Date of revision:
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-08-23 (All new papers)
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- David Schmeidler, 1989.
"Subjective Probability and Expected Utility without Additivity,"
Levine's Working Paper Archive
7662, David K. Levine.
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- Rawls, John, 1974. "Some Reasons for the Maximin Criterion," American Economic Review, American Economic Association, vol. 64(2), pages 141-46, May.
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