More on Harsanyi's utilitarian cardinal welfare theorem (Q1083994): Difference between revisions

From MaRDI portal
RedirectionBot (talk | contribs)
Changed an Item
Import240304020342 (talk | contribs)
Set profile property.
Property / MaRDI profile type
 
Property / MaRDI profile type: MaRDI publication profile / rank
 
Normal rank

Revision as of 02:08, 5 March 2024

scientific article
Language Label Description Also known as
English
More on Harsanyi's utilitarian cardinal welfare theorem
scientific article

    Statements

    More on Harsanyi's utilitarian cardinal welfare theorem (English)
    0 references
    1985
    0 references
    If individuals and society both obey the expected utility hypothesis and social alternatives are uncertain, then the social utility must be a linear combination of the individual utilities, provided the society is indifferent when all its members are. This result was first proven by \textit{J. Harsanyi} [J. Polit. Econ. 63, 309-321 (1955)] who made implicit assumptions in the proof not actually needed for the result [see \textit{M. D. Resnick}, Theory Decis. 15, 309-320 (1983; Zbl 0519.90015)]. This note presents a straightforward proof of Harsanyi's theorem based on a separating hyperplane argument.
    0 references
    expected utility hypothesis
    0 references
    separating hyperplane
    0 references
    0 references

    Identifiers