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Money-metric utilitarianism

机译:货币计量功利主义

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We discuss a method of ranking allocations in economic environments which applies when we do not know the names or preferences of individual agents. We require that two allocations can be ranked with the knowledge only of agents present, their aggregate bundles, and community indifference sets—a condition we refer to as aggregate independence. We also postulate a basic Pareto and continuity property, and a property stating that when two disjoint economies and allocations are put together, the ranking in the large economy should be consistent with the rankings in the two smaller economies (reinforcement). We show that a ranking method satisfies these axioms if and only if there is a probability measure over the strictly positive prices for which the rule ranks allocations on the basis of the random-price money-metric utilitarian rule. This is a rule which computes the money-metric utility for each agent at each price, sums these, and then takes an expectation according to the probability measure.
机译:我们讨论一种在经济环境中对分配进行排名的方法,该方法在我们不知道各个代理商的姓名或偏好时适用。我们要求只能根据存在的代理,它们的聚合捆绑和社区冷漠集的知识来对两个分配进行排名,这就是我们所说的聚合独立性。我们还假设了一个基本的帕累托和连续性属性,并说明了当两个不相交的经济体和分配放在一起时,大型经济体中的排名应该与两个较小经济体中的排名(强化)一致。我们证明,当且仅当存在严格的正价格的概率测度(该规则基于随机价格货币度量功利主义规则对分配进行排名)时,排名方法才能满足这些公理。这是一条规则,该规则计算每个代理商在每个价格下的货币度量效用,将其求和,然后根据概率测度得出期望值。

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  • 来源
    《Social Choice and Welfare》 |2012年第4期|809-831|共23页
  • 作者单位

    Department of Economics University of California San Diego San Diego CA USA;

    Department of Economics University of Texas Austin TX USA;

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  • 正文语种 eng
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