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We study social ordering functions in exchange economies. We show that if a social ordering function satisfies certain Pareto, individual rationality, and local independence conditions, then (i) the set of top allocations of the chosen social ordering is contained in the set of Walrasian...
Persistent link: https://www.econbiz.de/10005077716
Persistent link: https://www.econbiz.de/10005216669
In the context of ranking infinite utility streams, the impartiality axiom of finite length anonymity requires the equal ranking of any two utility streams that are equal up to a finite length permutation (Fleurbaey and Michel, 2003). We first characterize any finite length permutation as a...
Persistent link: https://www.econbiz.de/10008870840