A simple version and extension of Arrow’s Theorem in the Edgeworth Domain
This paper presents an Arrow-type result which can be simply demonstrated to hold within the standard domain of welfare economics: in the (m×n) Edgeworth Box, a best allocation must assign all goods to a single individual. Allowing the Social Welfare Function to take account of envy-freeness, or other related constructions, does not significantly resolve this problem.
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- Bordes, Georges & Campbell, Donald E & Le Breton, Michel, 1995. "Arrow's Theorem for Economic Domains and Edgeworth Hyperboxes," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 36(2), pages 441-54, May.
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