Sentence examples for a social welfare function from inspiring English sources

In particular, it leaves a social welfare function free to count $T$ socially better than $S$ (for increasing equality), while also counting $T^*$ worse than $S^*$ (for decreasing equality).

At the same time, explicit normative and methodological choices are required to select a social welfare function.

Perhaps the biggest problem with maximizing a social welfare function like utility is practical: We economists often have only a basic understanding of how most policies work.

To strike this balance, many economists think in terms of a "social welfare function" that aggregates individuals' well-being into a summary measure.

The main goal of the central authority is to design and fund an intervention scheme so that decisions of the channel are in line with the good of society, specified as a social welfare function.

Suppose the domain of a social welfare function includes both of these profiles.

An aggregation function, now a social welfare functional, maps each profile in some domain onto a weak ordering of the alternatives.

In this paper, we study consumption decisions under risk assuming a prioritarian social welfare function, namely a concave transformation of individual utility functions.

With a utilitarian social welfare function we show that the expression for a spouses' marginal income tax rate includes a "Pigouvian" (paternalistic) and an incentive term.

By choosing different prices, the arbitrator can optimize a certain social welfare function.

This solution is therefore related to a particular social welfare function which is somehow intermediate between sum-utilitarianism and the maximin criterion.