Multi_profile welfarism: a generalization

Welfarism vs. extra-welfarism.

'Extra-welfarism' has received some attention in health economics, yet there is little consensus on what distinguishes it from more conventional 'welfarist economics'. In this paper, we seek to identify the characteristics of each in order to make a systematic comparison of the ways in which they evaluate alternative social states. The focus, though this is not intended to be exclusive, is on h...

Relative Nash Welfarism

Relative Nash welfarism is a solution to the problem of aggregating von NeumannMorgenstern preferences over a set of lotteries. It ranks such lotteries according to the product of any collection of 0—normalized von Neumann-Morgenstern utilities they generate. We show that this criterion is characterized by the Weak Pareto Principle, Anonymity, and Independence of Harmless Expansions: the social...

Cahier 2002 - 02 in Defense of Welfarism

This paper characterizes welfarist social evaluation in a multi-profile setting where, in addition to multiple utility profiles, it is assumed that there are several profiles of non-welfare information. We prove new versions of the welfarism theorems in this alternative framework, and we illustrate that a very plausible and weak anonymity property is sufficient to generate anonymous social-eval...

Is There a Conflict between Growth and Welfarism? The Tale of Sri Lanka

Anonymous Single-profile Welfarism

This note reexamines the single-profile approach to social-choice theory. If an alternative is interpreted as a social state of affairs or a history of the world, it can be argued that a multi-profile approach is inappropriate because the information profile is determined by the set of alternatives. However, single-profile approaches are criticized because of the limitations they impose on the ...