The Pazner-Schmeidler Social Ordering: A Defense
It is shown that the Pazner-Schmeidler social ordering appears as a very natural solution to the problem of defining social preferences over distributions of a fixed bundle of divisible goods. The paper follows an approach to preference aggregation which relies only on interpersonally non-comparable preferences, and circumvents Arrow's impossibility by taking account of the shape of indifference curves. Social preferences can then be constructed and justified with fairness principles.
|Date of creation:||Nov 2001|
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