Equally-distributed equivalent utility, ex post egalitarianism and utilitarianism
Publication Type
Journal Article
Publication Date
7-2012
Abstract
We provide an axiomatization of expected equally-distributed equivalent-utility social welfare functions in the context of Harsanyi's 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.
Keywords
Utilitarianism, Harsanyi's (impartial) observer, Social welfare function, Ex post egalitarianism
Discipline
Economic Theory
Research Areas
Economic Theory
Publication
Journal of Economic Theory
Volume
147
Issue
4
First Page
1545
Last Page
1571
ISSN
0022-0531
Identifier
10.1016/j.jet.2011.04.001
Publisher
Elsevier
Citation
Grant, Simon; KAJII, Atsushi; Polak, Ben; and Safra, Ziv.
Equally-distributed equivalent utility, ex post egalitarianism and utilitarianism. (2012). Journal of Economic Theory. 147, (4), 1545-1571.
Available at: https://ink.library.smu.edu.sg/soe_research/1853
Additional URL
https://doi.org/10.1016/j.jet.2011.04.001