publication . Preprint . 1993

Relative Utilitarianism

DHILLON, Amrita; MERTENS, Jean-François;
Open Access
  • Published: 01 Dec 1993
Abstract
In a framework of preferences over lotteries, we show that an axiom system consisting of weakned versions of Arrow’s axioms has a unique solution. “Relative Utilitarianism” consists of first normalizing individual von Neumann-Morgenstern utilities between 0 and 1 and then summing them.
Subjects
arXiv: Computer Science::Computer Science and Game Theory
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