Relative Utilitarianism

Preprint OPEN
DHILLON, Amrita; MERTENS, Jean-François;
(1993)
  • Subject:
    arxiv: Computer Science::Computer Science and Game Theory

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 th... View more
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