Article ID Journal Published Year Pages File Type
957042 Journal of Economic Theory 2012 27 Pages PDF
Abstract

We provide an axiomatization of expected equally-distributed equivalent-utility social welfare functions in the context of Harsanyiʼs 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.

Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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