Social choice for bliss-point problems |
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Authors: | Wolfram F. Richter |
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Affiliation: | Institut für Mathematische Wirtschaftsforschung, Universität Bielefeld, 4800 Bielefeld I, F.G.R. |
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Abstract: | This paper's concern is the axiomatic determination of social choice correspondences Ψ for a class of n-person problems that are characterized by some — generally — non-feasible bliss-point u(V)(?V∈τ . Meeting appropriate assumptions of ‘planner's rationality’ it is shown that Ψ is necessarily norm-induced, i.e. one can find some norm |·| in Rn s.t. Ψ(V) = {u?V|6u-u(V)6=min{6v-u(V)6|v,V}}. The mathematical problem of recovering. from Ψ is one of integration which has its well-known parallel in the theory of revealed preference. |
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Keywords: | Social choice theory social welfare functional revealed preference |
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