"Near" Weighted Utilitarian Characterizations of Pareto Optima
Theoretical Economics
2023-03-28 v2
Abstract
We characterize Pareto optimality via "near" weighted utilitarian welfare maximization. One characterization sequentially maximizes utilitarian welfare functions using a finite sequence of nonnegative and eventually positive welfare weights. The other maximizes a utilitarian welfare function with a certain class of positive hyperreal weights. The social welfare ordering represented by these "near" weighted utilitarian welfare criteria is characterized by the standard axioms for weighted utilitarianism under a suitable weakening of the continuity axiom.
Keywords
Cite
@article{arxiv.2008.10819,
title = {"Near" Weighted Utilitarian Characterizations of Pareto Optima},
author = {Yeon-Koo Che and Jinwoo Kim and Fuhito Kojima and Christopher Thomas Ryan},
journal= {arXiv preprint arXiv:2008.10819},
year = {2023}
}