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Equally-distributed equivalent utility, ex post egalitarianism and utilitarianism
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Grant, Simon, Kajii, Atsushi, Polak, Ben and Safra, Zvi (2012) Equally-distributed equivalent utility, ex post egalitarianism and utilitarianism. Journal of Economic Theory, 147 (4). pp. 1545-1571. doi:10.1016/j.jet.2011.04.001
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Official URL: http://dx.doi.org/10.1016/j.jet.2011.04.001
Abstract
We provide an axiomatization of expected equally-distributed equivalent-utility social welfare functions in the context of Harsanyiʼs impartial observer theorem. For this family of social welfare functions, we show what additional axiom is necessary and sufficient for the observer to exhibit aversion to ex post inequality. We also relate this axiomatization to our axiomatization in a companion paper of generalized utilitarian social welfare functions. Given certain richness assumptions, the only social welfare functions that belong to both families are the utilitarian.
| Item Type: | Journal Article | ||||
|---|---|---|---|---|---|
| Divisions: | Faculty of Social Sciences > Warwick Business School | ||||
| Journal or Publication Title: | Journal of Economic Theory | ||||
| Publisher: | Academic Press | ||||
| ISSN: | 0022-0531 | ||||
| Official Date: | July 2012 | ||||
| Dates: |
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| Volume: | 147 | ||||
| Number: | 4 | ||||
| Page Range: | pp. 1545-1571 | ||||
| DOI: | 10.1016/j.jet.2011.04.001 | ||||
| Status: | Peer Reviewed | ||||
| Publication Status: | Published | ||||
| Access rights to Published version: | Restricted or Subscription Access |
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