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Social Decisions without Social Preferences

In: Planning and Market Relations

Author

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  • Robert Dorfman

    (Harvard University)

Abstract

One of the most sacred foundations of economic reasoning is that decisions are a reflection and implementation of preferences. Consumers ’ decisions reveal ‘revealed preference ’. Business decisions are intended to maximise profits because businessmen prefer higher profits to lower. All decisions are intended to obtain the more preferred in lieu of the less preferred.

Suggested Citation

  • Robert Dorfman, 1971. "Social Decisions without Social Preferences," International Economic Association Series, in: Michael Kaser & Richard Portes (ed.), Planning and Market Relations, chapter 6, pages 117-129, Palgrave Macmillan.
    • Handle: RePEc:pal:intecp:978-1-349-15410-4_9
    DOI: 10.1007/978-1-349-15410-4_9
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