The Fundamental Theorems of Welfare Economics in a Non-Welfaristic Approach

This paper investigates extensions of the two fundamental theorems of welfare economics to the framework in which each agent is endowed with three types of preference relations: an allocation preference relation, an opportunity preference relation, and an overall preference relation. It is shown that, under certain conditions, the two theorems can be extended. It is also pointed out that the conditions underlying the positive results are restrictive.

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Year of publication:	2002-01
Authors:	Tadenuma, Koichi ; Xu, Yongsheng
Institutions:	Center for Intergenerational Studies, Institute of Economic Research

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Extent:	application/pdf
Series:	Discussion Paper.
Type of publication:	Book / Working Paper
Language:	English
Notes:	First Version: September 2001; This Version: January 2002 Number 48 18 pages long
Classification:	D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement ; D71 - Social Choice; Clubs; Committees; Associations
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005018592