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 outcome x from an opportunity set A is better than choosing an...

Banerjee and Pattanaik (1996) proved a theorem that the maximal set with respect to a quasi-ordering can be fully recovered by defining the greatest sets with respect to each and every ordering extension thereof and taking their union. Donaldson and Weymark (1998) proved a theorem that a...

Two features of Arrow’s social choice theory are critically scrutinized. The first feature is the welfarist-consequentialism, which not only bases social judgements about right or wrong actions on the assessment of their consequences, but also assesses consequences in terms of people’s...

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...

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...

Two features of Arrow's social choice theory are critically scrutinized. The first feature is the welfarist-consequentialism, which not only bases social judgements about right or wrong actions on the assessment of their consequences, but also assesses consequences in terms of people's welfare...