Documenti di Didattica
Documenti di Professioni
Documenti di Cultura
Theories of justice
Social welfare functions
𝑊 𝑥 = 𝑢𝑖 (𝑤)
𝑖=1
𝑊 = 𝑎 𝑖 𝑢𝑖
𝑖=1
Utilitarian social welfare
function
• Social indifference curves or isowelfare curves 𝑊1 < 𝑊2 < 𝑊3
Bernoulli-Nash social welfare
functions
• Simple Bernoulli-Nash SWF
𝐻
𝑊 = ෑ 𝑢𝑖
𝑖=1
• Generalised form
𝐻
𝑊 = ෑ(𝑢𝑖 )𝑎𝑖
𝑖=1
𝑊 = 𝑢𝑖 (𝑥)
𝑖=1
• Economic welfare = x includes only monetary sources
Pigou’s propositions about
economic welfare