Alternative derivation of the leximin principle
This note provides an alternative derivation of the leximin principle using the framework of Harsanyi’s (1953) equi-probability model. We demonstrate that the leximin principle is concluded if and only if the preference ordering of the impartial observer obeys strong monotonicity and complete risk aversion.
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- John C. Harsanyi, 1953. "Cardinal Utility in Welfare Economics and in the Theory of Risk-taking," Journal of Political Economy, University of Chicago Press, vol. 61, pages 434-434.
- Chambers, Christopher P., 2012.
"Inequality aversion and risk aversion,"
Journal of Economic Theory,
Elsevier, vol. 147(4), pages 1642-1651.
- Chambers, Christopher P., "undated". "Inequality aversion and risk aversion," Working Papers 1300, California Institute of Technology, Division of the Humanities and Social Sciences.
- Marco Mariotti & Roberto Veneziani, 2009. "‘Non-interference’ implies equality," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 32(1), pages 123-128, January.
- Claude D'Aspremont & Louis Gevers, 1977. "Equity and the Informational Basis of Collective Choice," Review of Economic Studies, Oxford University Press, vol. 44(2), pages 199-209.
- d'ASPREMONT, Claude & GEVERS, Louis, "undated". "Equity and the informational basis of collective choice," CORE Discussion Papers RP 350, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- John C. Harsanyi, 1955. "Cardinal Welfare, Individualistic Ethics, and Interpersonal Comparisons of Utility," Journal of Political Economy, University of Chicago Press, vol. 63, pages 309-309.
- Hammond, Peter J, 1976. "Equity, Arrow's Conditions, and Rawls' Difference Principle," Econometrica, Econometric Society, vol. 44(4), pages 793-804, July.
- Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680, April. Full references (including those not matched with items on IDEAS)
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