Social choice theory in the case of von Neumann-Morgenstern utilities (Q1124507)
From MaRDI portal
!
This is the item page for this Wikibase entity, intended for internal use and editing purposes. Please use the normal view instead:
scientific article; zbMATH DE number 4112335
| Language | Label | Description | Also known as |
|---|---|---|---|
| default for all languages | No label defined |
||
| English | Social choice theory in the case of von Neumann-Morgenstern utilities |
scientific article; zbMATH DE number 4112335 |
Statements
Social choice theory in the case of von Neumann-Morgenstern utilities (English)
0 references
1989
0 references
Harsanyi's theorem on the existence of a utilitarian social welfare function rests on a fixed profile of individual utility functions. This paper generalizes Harsanyi's theorem to the multi-profile case: the profile may now vary. The main result is that any social welfare function satisfying the von Neumann-Morgenstern restrictions and exteded neutrality is affine in individual utilities. When one adds Pareto and neutrality restrictions, the result is a classical Benthamite social welfare function.
0 references
utilitarian social welfare function
0 references
Harsanyi's theorem
0 references
multi-profile case
0 references
exteded neutrality
0 references
Benthamite social welfare function
0 references
0.8541915416717529
0 references
0.8441048860549927
0 references
0.8388790488243103
0 references
0.831906795501709
0 references
0.8309940695762634
0 references
