Social welfare function
In welfare economics, a social welfare function is a function that ranks social states (alternative complete descriptions of the society) as less desirable, more desirable, or indifferent for every possible pair of social states. Inputs of the function include any variables considered to affect the economic welfare of a society. In using welfare measures of persons in the society as inputs, the social welfare function is individualistic in form. One use of a social welfare function is to represent prospective patterns of collective choice as to alternative social states. The social welfare function provides the government with a simple guideline for achieving the optimal distribution of income.
- Comment
- enIn welfare economics, a social welfare function is a function that ranks social states (alternative complete descriptions of the society) as less desirable, more desirable, or indifferent for every possible pair of social states. Inputs of the function include any variables considered to affect the economic welfare of a society. In using welfare measures of persons in the society as inputs, the social welfare function is individualistic in form. One use of a social welfare function is to represent prospective patterns of collective choice as to alternative social states. The social welfare function provides the government with a simple guideline for achieving the optimal distribution of income.
- Has abstract
- enIn welfare economics, a social welfare function is a function that ranks social states (alternative complete descriptions of the society) as less desirable, more desirable, or indifferent for every possible pair of social states. Inputs of the function include any variables considered to affect the economic welfare of a society. In using welfare measures of persons in the society as inputs, the social welfare function is individualistic in form. One use of a social welfare function is to represent prospective patterns of collective choice as to alternative social states. The social welfare function provides the government with a simple guideline for achieving the optimal distribution of income. The social welfare function is analogous to the consumer theory of indifference-curve–budget constraint tangency for an individual, except that the social welfare function is a mapping of individual preferences or judgments of everyone in the society as to collective choices, which apply to all, whatever individual preferences are for (variable) constraints on factors of production. One point of a social welfare function is to determine how close the analogy is to an ordinal utility function for an individual with at least minimal restrictions suggested by welfare economics, including constraints on the number of factors of production. There are two major distinct but related types of social welfare functions: * A Bergson–Samuelson social welfare function considers welfare for a given set of individual preferences or welfare rankings. * An Arrow social welfare function considers welfare across different possible sets of individual preferences or welfare rankings and seemingly reasonable axioms that constrain the function.
- Hypernym
- Function
- Is primary topic of
- Social welfare function
- Label
- enSocial welfare function
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- www.jstor.org/stable/2228209
- www.jstor.org/stable/2553231
- www.jstor.org/pss/2553553
- www.citeulike.org/user/rlai/article/681900
- dx.doi.org/10.1057/9780230226203.1567
- books.google.com/books%3Fid=u8GPYeT1qAUC&printsec=frontcover&dq=false
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- scholar.harvard.edu/sen/publications/choice-welfare-and-measurement
- web.archive.org/web/20060215000915/http:/cepa.newschool.edu/het/essays/paretian/paretosocial.htm%23swf
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- A.C. Pigou
- Abba Lerner
- Abram Bergson
- Aggregation problem
- Alfred Marshall
- Amartya Sen
- An Essay on the Nature and Significance of Economic Science
- Anthony Barnes Atkinson
- Arrow's impossibility theorem
- Benthamite
- Budget constraint
- Cambridge University Press
- Cardinal utility
- Category:Mathematical economics
- Category:Social choice theory
- Category:Welfare economics
- Ceteris paribus
- Closed set
- Community indifference curve
- Consumer theory
- Differentiable function
- Distribution (economics)
- Economic welfare
- Enrico Barone
- Extended sympathy
- Factors of production
- Foundations of Economic Analysis
- Function (mathematics)
- Gini index
- Gorman polar form
- Indifference curve
- Invisible hand
- Jan de Van Graaff
- Jeremy Bentham
- John C. Harsanyi
- John Rawls
- Justice (economics)
- Kenneth Arrow
- Kotaro Suzumura
- Law of diminishing marginal utility
- Liberal paradox
- Life expectancy
- Lionel Robbins
- Mathematical problem
- Median
- Methodological individualism
- Nash bargaining solution
- Ordinal utility function
- Pareto efficiency
- Pareto optimality
- Paul A. Samuelson
- Paul Samuelson
- Pigou–Dalton principle
- Preference relation
- Production possibility frontier
- Production-possibility frontier
- Social Choice and Individual Values
- Social choice theory
- Theil index
- The New Palgrave: A Dictionary of Economics
- Total order
- Uncertainty aversion
- Utilitarian
- Utilitarianism
- Utility function
- Vilfredo Pareto
- Welfare economics
- SameAs
- 4190150-2
- Félagsleg skilvirkni
- Função de bem-estar social
- Funkce sociálního zabezpečení
- Funkcja dobrobytu społecznego
- ibd7
- m.01fskx
- Q1754086
- Samfundsvelfærdsfunktion
- Társadalmi jóléti függvény
- Velferdsfunksjon
- Wohlfahrtsfunktion
- פונקציית רווחה חברתית
- تابع رفاه اجتماعی
- 社会的厚生関数
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- Category:Mathematical economics
- Category:Social choice theory
- Category:Welfare economics
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