IDEAS home Printed from
MyIDEAS: Login to save this paper or follow this series

Axiomatic characterization of aggregate consumer surplus measures as social welfare indices

  • Mitsunobu Miyake
Registered author(s):

    This paper proposes two types of equity-regarding social welfare indices which satisfy the Pigu-Dalton transfer principle in the neoclassical market model: one is the geometrically aggregated compensating ratios and the other is the geometrically aggregated equivalent ratios. The two proposed indices, as well as the well-known two types of arithmetically aggregated Hicksian variations, are used to define Arrovian social ordering functions which evaluate the price vectors and income distributions in the market model. It is shown that each of the four Arrovian social ordering functions can be characterized by the axioms in Arrovian form: Pareto, symmetry and an independence axiom weaker than Arrow's original independence axiom. It follows from the characterizations that the two proposed indices have solid normative foundations as social welfare indices even if the individual heterogeneity both in tastes and in incomes is admitted, and that the equity-regarding property of the indices comes from their respective independence axioms(variants of Fisher's commensurability axiom).

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

    File URL:
    Download Restriction: no

    File URL:
    Download Restriction: no

    Paper provided by Graduate School of Economics and Management, Tohoku University in its series TERG Discussion Papers with number 294.

    in new window

    Length: 44 pages
    Date of creation: Apr 2013
    Date of revision:
    Handle: RePEc:toh:tergaa:294
    Contact details of provider: Postal: Kawauchi, Aoba-ku, Sendai 980-8476
    Web page:

    More information through EDIRC

    No references listed on IDEAS
    You can help add them by filling out this form.

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    When requesting a correction, please mention this item's handle: RePEc:toh:tergaa:294. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Tohoku University Library)

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    This information is provided to you by IDEAS at the Research Division of the Federal Reserve Bank of St. Louis using RePEc data.