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A foundation for Pareto optimality

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  • Duddy, Conal
  • Piggins, Ashley

Abstract

Can an axiomatic justification be given for the requirement that society picks all and only Pareto optimal alternatives at each profile of individual preferences? Using the framework of fixed-agenda social choice theory, we present a characterization of the Pareto optimal social choice correspondence. We introduce a new independence condition, P-independence. When combined with three natural assumptions, P-independence leads to the conclusion that the social choice set and the Pareto optimal set are the same.

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  • Duddy, Conal & Piggins, Ashley, 2020. "A foundation for Pareto optimality," Journal of Mathematical Economics, Elsevier, vol. 88(C), pages 25-30.
    • Handle: RePEc:eee:mateco:v:88:y:2020:i:c:p:25-30
    DOI: 10.1016/j.jmateco.2020.02.005
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    References listed on IDEAS

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    Cited by:

    1. Guy Barokas, 2022. "Revealed desirability: a novel instrument for social welfare," Theory and Decision, Springer, vol. 93(4), pages 649-661, November.
    2. Kelly, Jerry S., 2020. "Characterization of the Pareto social choice correspondence," Mathematical Social Sciences, Elsevier, vol. 108(C), pages 150-155.
    3. Duddy, Conal & Piggins, Ashley, 2022. "Collective choice rules with social maximality," Journal of Mathematical Economics, Elsevier, vol. 99(C).

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