Paretian Welfare Judgements And Bergsonian Social Choice  

Oleh:

Suzumura, Kotaro

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 109 no. 455 (Apr. 1999), page 204-220.
Topik: judgements; bergsonian; social choice
Fulltext: 204.pdf (357.48KB)

Isi artikel

Two distinct approaches can be identi®ed in the new welfare economics. The school of thought based on the compensation principles attempted to see what can be said about social welfare without making interpersonal comparisons of well-being by extending the applicability of the Pareto principle through hypothetical compensatory payments between gainers and losers. The Bergson-Samuelson school of thought introduced the social welfare function as a formal method of introducing a Pareto-inclusive ethical belief on social welfare, whose policy implications we should theoretically explore. Synthesising these two approaches, this paper identi®es a condition under which the new welfare economics is logically impeccable.

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