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Most, if not at all, practitioners of welfare economics and social choice theory are presumed to be welfaristic in their conviction. Indeed, they evaluate the goodness of an economic policy and/or economic system in terms of the welfare that people receive at the culmination outcomes thereby...
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There exists a utilitarian tradition la Sidgwick of treating equal generations equally in the form of anonymity. Diamond showed that no social evaluation ordering over infinite utility streams satisfying the Pareto principle, Sidgwick's equity principle, and the axiom of continuity exists. We...
Persistent link: https://www.econbiz.de/10005018372
In a recent paper ["Paretian Welfare Judgements and Bergsonian Social Choice," Economic Journal, Vol. 109, 1999, pp. 204-220], Suzumura proposed a possible way of relating the two schools of "new" welfare economics. According to his proposal, the logical possibility of the Paretian "new" welfare...
Persistent link: https://www.econbiz.de/10005018527
By allowing for the possibility that individuals recognize the intrinsic value of choice along with the instrumental value thereof, we suppose that individuals express extended preference orderings of the following type: Choosing an alternative x from an opportunity set A is better than choosing...
Persistent link: https://www.econbiz.de/10005018557
In a recent paper to appear in Journal of Economic Theory [Kotaro Suzumura and Yongsheng Xe, "Characterizations of Consequentialism and Non-consequentialism"], an analytical framework was developed, which allowed us to characterize the concept of consequentialism and non-consequentialism. To...
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