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In a framework of preferences over lotteries, we show that an axiom system consisting of weakened versions of Arrow's axioms has a unique solution. "Relative Utilitarianism" consists of first normalising individual von Neumann-Morgenstern utilities between 0 and 1 and then summing them. This...
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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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I develop the argument that our current decision-making framework, utility theory, when used by itself, is 1) descriptively incomplete, 2) theoretically flawed, and 3) ethically questionable. In response, I offer an exploratory framework that incorporates both consequentialist and...
Persistent link: https://www.econbiz.de/10005446096
Utilitarian voting (UV) is defined in this paper as any voting rule that allows the voter to rank all of the alternatives by means of the scores permitted under a given voting scale. Specific UV rules that have been proposed are approval voting, allowing the scores 0, 1; range voting, allowing...
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