Kaushik, Basu; Lòpez-Calva, Luis F. - In: Handbook of social choice and welfare : volume 2, (pp. 153-187). 2011
Traditional economics identifies a person's well-being with the goods and services the person consumes and the utility that the person gets from such consumption. This, in turn, has led to the widely used approach of welfarism that uses individual utilities as ingredients for evaluating a...