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We propose a mathematical model of `approximate' interpersonal comparisons of well-being, in terms of an incomplete preorder over a space of `psychophysical states'. We argue that this model is consistent with people's intuitions about interpersonal comparisons, intertemporal preferences, and...
Persistent link: https://www.econbiz.de/10008646797
We develop a model of preference aggregation where people's psychological characteristics are mutable (hence, potential objects of individual or social choice), their preferences may be incomplete, and approximate interpersonal comparisons of well-being are possible. Formally, we consider...
Persistent link: https://www.econbiz.de/10008646832