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We reconsider the problem of aggregating individual preference orderings into a single social ordering when alternatives are lotteries and individual preferences are of the von Neumann–Morgenstern type. Relative egalitarianism ranks alternatives by applying the leximin ordering to the...
Persistent link: https://www.econbiz.de/10010848186
We reconsider the problem of provision and cost-sharing of multiple public goods. The efficient equal factor equivalent allocation rule makes every agent indifferent between what he receives and the opportunity of choosing the bundle of public goods subject to the constraint of paying r times...
Persistent link: https://www.econbiz.de/10005147217
Persistent link: https://www.econbiz.de/10005147240