Affiliation:
1. Department of Economics, Columbia University
2. Department of Economics and SIER, Seoul National University
3. Department of Economics and Market Design Center, University of Tokyo
4. Operations and Logistics Division, UBC Sauder School of Business, University of British Columbia
Abstract
We give two characterizations of Pareto optimality via “near” weighted utilitarian welfare maximization. One characterization sequentially maximizes utilitarian welfare functions using a finite sequence of nonnegative and eventually positive welfare weights. The other maximizes a utilitarian welfare function with a certain class of positive hyperreal weights. The social welfare ordering represented by these “near” weighted utilitarian welfare criteria is characterized by the standard axioms for weighted utilitarianism under a suitable weakening of the continuity axiom.
Funder
Carnegie Mellon University
Korea Advanced Institute of Science and Technology
Northwestern University
Stanford University
University of British Columbia
National Science Foundation
Japan Society for the Promotion of Science London
Japan Society for the Promotion of Science
Natural Sciences and Engineering Research Council of Canada
UBC Sauder School of Business
Institute of Economic Research, Hitotsubashi University
Seoul National University
Ministry of Education
National Research Foundation of Korea
Cited by
1 articles.
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