Three Welfare Orderings that are Fully Comparable Revisited

• Autorzy: Somdeb Lahiri
• Języki publikacji: EN

Abstrakty

EN

We are concerned with welfare orderings on the set of evaluation vectors. In our framework the number of agents, criteria or states of nature is fixed and an evaluation vector assigns a real valued evaluation to each criteria, agent or state of nature. Hence the space of evaluation vectors is a finite dimensional Euclidean space. In such a context we provide axiomatic characterizations of the utilitarian, maximin and leximin welfare orderings. The axiomatic characterization of the utilitarian welfare ordering is based on a quasi-linearity property. The axiomatic characterizations of the maximin and leximin welfare orderings are obtained by suitably modifying the axioms used by Barbera and Jackson (1988).(original abstract)

Słowa kluczowe

EN

Welfare economics; Choice theory; Decision making theory; Multiple-criteria decision making

PL

Ekonomia dobrobytu; Teoria wyboru; Teoria podejmowania decyzji; Wielokryterialne podejmowanie decyzji

• Czasopismo: Multiple Criteria Decision Making / University of Economics in Katowice
• Rocznik: 2018
• Tom: 13
• Strony: 133--148

Twórcy

autor

Somdeb Lahiri

• School of Petroleum Management, India

Bibliografia

• d'Aspremont (1985), Axioms for Social Welfare Orderings [in:] L. Hurwicz, D. Schmeidler, H. Sonnenschein (eds.), Social Goals and Social Organization: Essays in Memory of Elisha Pazner, Cambridge University Press, Cambridge, 19-75.
• Barbera S., Jackson M. (1988), Maximin, Leximin, and the Protective Criterion: Characterizations and Comparisons, Journal of Economic Theory, 46, 34-44.
• Bossert W., Weymark J.A. (2004), Utility in Social Choice [in:] S. Barbera, P.J. Hammond, C. Seidl (eds.), Handbook of Utility Theory. Vol. 2: Extensions, Kluwer Academic Publishers, Boston, 1099-1177.
• Nash J.F. (1950), The Bargaining Problem, Econometrica, 18, 155-162.
• Rubinstein A. (2012), Lecture Notes in Microeconomic Theory: The Economic Agent (2nd edition), Princeton University Press, Princeton and Oxford.

Identyfikatory

DOI

10.22367/mcdm.2018.13.08