Maliar, Lilia; Maliar, Serguei - Instituto Valenciano de Investigaciones Económicas (IVIE) - 2005
This paper studies the properties of the social utility function defined by the planner's problem of Constantinides … social utility function analytically. For such well-known classes of utility functions as the HARA and the CES, our … construction is equivalent to Gorman's (1953) aggregation. However, we can also construct the social utility function analytically …
