The Libertarian resolution of the Paretian liberal paradox (Q1101309): Difference between revisions

The authors propose and prove a resolution of the liberal paradox by allowing exchanges of rights which are mutually advantageous in the sense that the new right is a choice between two alternatives having a greater difference in utility for any utility function. For more than two voters they also allow mixing of pairs from (x,y) and (z,w) to (x,w) and (z,y). They show this always works provided the rights-system is consistent (with universal domain ignoring Pareto optimality).