Alternative derivation of the leximin principle

This note provides an alternative derivation of the leximin principle using the framework of Harsanyi’s (1953) equi-probability model. We demonstrate that the leximin principle is concluded if and only if the preference ordering of the impartial observer obeys strong monotonicity and complete risk aversion.

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Year of publication:	2014
Authors:	Mori, Osamu
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 124.2014, 1, p. 157-159
Publisher:	Elsevier
Subject:	Leximin \| Observer \| Lottery \| Risk aversion

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Type of publication:	Article
Classification:	D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement ; D71 - Social Choice; Clubs; Committees; Associations ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010784997