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Quadratic Social Welfare Functions

Authors: Epstein, Larry G; Segal, Uzi;

Quadratic Social Welfare Functions

Abstract

John Harsanyi has provided an intriguing argument that social welfare can be expressed as a weighted sum of individual utilities. His theorem has been criticized on the grounds that a central axiom, that social preference satisfies the independence axiom, has the morally unacceptable implication that the process of choice and considerations of ex ante fairness are of no importance. This paper presents a variation of Harsanyi's theorem in which the axioms are compatible with a concern for ex ante fairness. The implied mathematical form for social welfare is a strictly quasi-concave and quadratic function of individual utilities.

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Powered by OpenAIRE graph
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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
85
Top 10%
Top 10%
Average
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