Social Welfare Functions
This article provides an introduction to the use of social welfare functions for the comparative evaluation of social alternatives. Three main approaches are considered: Bergsonâ€“Samuelson social welfare functions, Arrovian social welfare functions, and Sen's social welfare functionals. How the measurability and comparability of utility can be modelled and how limitations on the types of utility comparisons that are possible restricts the kinds of social welfare functions that can be considered is also discussed. Extensive social choice theory is used to deal with heterogeneous opinions about how to make utility comparisons.
|Date of creation:||26 Nov 2012|
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