کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
966972 1479279 2008 18 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The ordinal Nash social welfare function
موضوعات مرتبط
مهندسی و علوم پایه ریاضیات ریاضیات کاربردی
پیش نمایش صفحه اول مقاله
The ordinal Nash social welfare function
چکیده انگلیسی
A social welfare function entitled 'ordinal Nash' is proposed. It is based on risk preferences and assumes a common, worst social state (origin) for all individuals. The crucial axiom in the characterization of the function is a weak version of independence of irrelevant alternatives. This axiom considers relative risk positions with respect to the origin. Thus, the resulting social preference takes into account non-expected utility risk preference intensity by directly comparing certainty equivalent probabilities. The function provides an interpretation of the Nash-utility-product preference aggregation rule. Necessary and sufficient conditions for the function to produce complete and transitive binary relations are characterized.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Mathematical Economics - Volume 44, Issues 5–6, April 2008, Pages 405-422
نویسندگان
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