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"Near" Weighted Utilitarian Characterizations of Pareto Optima

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  • Yeon-Koo Che
  • Jinwoo Kim
  • Fuhito Kojima
  • Christopher Thomas Ryan

Abstract

We characterize Pareto optimality via "near" weighted utilitarian welfare maximization. One characterization sequentially maximizes utilitarian welfare functions using a finite sequence of nonnegative and eventually positive welfare weights. The other maximizes a utilitarian welfare function with a certain class of positive hyperreal weights. The social welfare ordering represented by these "near" weighted utilitarian welfare criteria is characterized by the standard axioms for weighted utilitarianism under a suitable weakening of the continuity axiom.

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  • Yeon-Koo Che & Jinwoo Kim & Fuhito Kojima & Christopher Thomas Ryan, 2020. ""Near" Weighted Utilitarian Characterizations of Pareto Optima," Papers 2008.10819, arXiv.org, revised Mar 2023.
    • Handle: RePEc:arx:papers:2008.10819
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    File URL: http://arxiv.org/pdf/2008.10819
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    References listed on IDEAS

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    1. Milgrom, Paul & Shannon, Chris, 1994. "Monotone Comparative Statics," Econometrica, Econometric Society, vol. 62(1), pages 157-180, January.
    2. Lars-Gunnar Svensson, 1999. "Strategy-proof allocation of indivisible goods," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 16(4), pages 557-567.
    3. Yaari, Menahem E., 1981. "Rawls, edgeworth, shapley, nash: Theories of distributive justice re-examined," Journal of Economic Theory, Elsevier, vol. 24(1), pages 1-39, February.
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    Cited by:

    1. Shaun Hargreaves Heap & Mehmet S. Ismail, 2021. "No-harm principle, rationality, and Pareto optimality in games," Papers 2101.10723, arXiv.org, revised Nov 2022.
    2. Heap, Shaun Hargreaves & Ismail, Mehmet, 2021. "Liberalism, rationality, and Pareto optimality," SocArXiv mgqh7, Center for Open Science.

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