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-level generalized utilitarianism (PARDCLU), through a key axiom that requires that the social welfare order both be ethical and satisfy … first-order stochastic dominance. PARDCLU is useful for evaluating intergenerational risks, is ethical in contrast to …
Persistent link: https://www.econbiz.de/10011335597
determined. We propose and axiomatize the rank-discounted critical-level utilitarian social welfare order. It is shown to ll out …
Persistent link: https://www.econbiz.de/10010330233
When evaluating well-being distributions in an anonymous (and replication invariant) manner, one faces a dilemma between (i) assigning dictatorship to a single worst-off person, thus succumbing to a tyranny of non-aggregation and (ii) assigning dictatorship to (unboundedly) many better-off...
Persistent link: https://www.econbiz.de/10012058698