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Topic: Social welfare function

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In the News (Thu 21 Feb 19)

  Dale Jorgenson's Collected Works
Measures of welfare are then recovered from the individual demand functions and combined into a single indicator of social welfare, reflecting concepts of horizontal and vertical equity.
Social welfare is transformed into a money metric by defining a social expenditure function in terms of the minimum aggregate expenditure required to attain a given level of welfare, as in section 1.4 of chapter 1.
The gain in social welfare from this redistributional policy is a measure of poverty analogous to the measure of inequality presented in chapter 3.
post.economics.harvard.edu /faculty/jorgenson/colwork/welfarep2.html   (6288 words)

 Social welfare function - Wikipedia, the free encyclopedia
In using individual welfare measures as an input, the social welfare function is individualistic in form.
The form of the social welfare function is intended to express a statement of objectives of a society.
The max-min welfare function can be seen as reflecting an extreme form of risk aversion on the part of society as a whole, since it is concerned only with the worst conditions that a member of society could face.
en.wikipedia.org /wiki/Social_welfare_function   (1621 words)

 Social welfare
Those involved in the social welfare system are generally unable to control or influence their own circumstances, while those in the justice system are generally responsible for the situation they find themselves in.
While being involved in the justice system often excludes an individual from social welfare assistance, those exiting the justice system, such as released prisoners, and families of those involved in the justice system are often eligible for social welfare assistance because of increased needs and increased risk of recidivism if the assistance is not provided.
In order to reproduce utilitarian philosophy more faithfully in economic models, it is necessary to suppose the existence of a social welfare function, which specifies which situations are better than others, in terms of the resources held by everyone in society.
www.ebroadcast.com.au /lookup/encyclopedia/so/Social_welfare.html   (685 words)

 Social Choice and Beyond - A Short Proof of Arrow's Impossibility Theorem
Arrow goes on to prove that there is no social welfare function that will produce results that meet his 5 criteria in every case.
This Condition states that if the social welfare function produces the outcome XYZ and then one of the alternatives is eliminated the same SWF applied to the 2 remaining alternatives must produce the same outcome as would be produced by blotting out the eliminated alternative in the 3 alternative case.
Therefore, social choice is impossible since there is no SWF that will provide an outcome that meets one of Arrow’s Criteria in one case.
www.socialchoiceandbeyond.com /scabpage36.html   (530 words)

 Social Choice and Beyond - Papers
Social Choice is an important field because, if in fact Social Choice is impossible, there is no solid theoretical ground for a satisfactory version of political democracy and also any possible version of economic democracy would likewise be invalidated.
The possibility of Social Choice is proven by presenting an algorithm which represents a social welfare function that maps the domain of all possible combinations of individual choices into corresponding social choices.
A proof is presented that the algorithm provides a social choice solution for all values of m when individual and social choices are expressed in terms of the R (preference or indifference) operator, and for all values of n, the number of voters.
www.socialchoiceandbeyond.com /scabpage3.html   (2885 words)

 Social welfare function
A social welfare function, in welfare economics[?], is a function which gives a measure of the total welfare of society, given a number of economic variables as inputs.
In this form, social welfare is a function of the levels of utility of members in society.
Where W is social welfare and Yx is the income of each of the xth individual in a society.
www.fastload.org /so/Social_welfare_function.html   (429 words)

 [No title]
Even if the welfare of a single animal counts for very little, the aggregate welfare consequences of human policies towards animals could be high. I wish to examine and evaluate the human treatment of animals from the perspective of a very simple form of utilitarianism, namely economic ordinalism.
If the welfare difference between the farm sector and the laboratory sector is greater than the difference between the farm sector and the pet sector, animal advocates should take special care to push for comprehensive animal rights legislation.
Depending on quantitative magnitudes, and the exact nature of the social welfare function, it may be welfare-enhancing to transfer more than the marginal animal to the better sector, but we cannot know this a priori.
www.gmu.edu /jbc/Tyler/animals.doc   (7278 words)

 Times & Seasons » So What Shape is God’s Social Welfare Function?
Implicit in the maximization argument is the assumption that the over-all desirability of some state of affairs x is defined by the sum of the individual utility functions (which remember are simply a mathematical description of individuals’ preferences) of all members of the society.
Where S is the social welfare function, In is the individual utility function of person n, there are n people in the society, and we are judging the state of affairs x in the world.
And so one tries to use a welfare function that is accurate for the things one is interested in, even if it is a lousy one for other things.
www.timesandseasons.org /?p=1749   (5806 words)

 Arrow's Theorem
A {\em social welfare function\/} is a function mapping a profile to a social preference.
We list Arrow's conditions for social welfare functions: (Unanimity) For any x, y in X and for any profile, if x is preferred to y by all individuals, then x is socially preferred to y.
Aside from generalization in which social choice theorists are busy modifying the existing conditions like Unanimity or Independence, there are lines of research to produce Arrow-like theorems from axioms that are different in spirit from the original axioms.
www.ravensrook.com /torg/th_arrow.html   (2341 words)

 The Paretian System: IV - Social Welfare (via CobWeb/3.1 planetlab2.cs.unc.edu)   (Site not responding. Last check: 2007-11-04)
The Second Welfare Theorem was, of course, at the heart of the argument of Enrico Barone (1908) and Vilfredo Pareto (1896; 1906: p.266-9) on the efficiency of a "socialist planning" which opened up the famous "Socialist Calculation debate".
Thus, the "social optimum" is determined by the tangency of the social indifference curves and the GUPF.
Such a function yield the convex social indifference curves in Figure 8 and is sometimes called a "Bernoulli-Nash" social welfare function.
cepa.newschool.edu.cob-web.org:8888 /het/essays/paretian/paretosocial.htm   (7107 words)

 Re: HES: QUERY -- History of the Social Welfare Function
Bergson A. (1983), "Pareto on Social Welfare", Journal of Economic Literature, vol.
Chipman J. (1982), "Samuelson and Welfare Economics", in Feiwel G R. ed., Samuelson and Neoclassical Economics, Boston and The Hague, Kluwer-Nijhoff Publishing, pp.
There is a voluminous literature in social choice theory on Kenneth Arrow's concept of SWF (which is different from Bergson-Samuelson SWF) and related concepts such as Amartya Sen's Social Welfare Functional (for a summary see various chapters in the recently published Handbook of Social Choice and Welfare, vol.
eh.net /lists/archives/hes/dec-2003/0039.php   (471 words)

 International Economics Glossary: S (via CobWeb/3.1 planetlab2.cs.unc.edu)   (Site not responding. Last check: 2007-11-04)
The proposition of welfare economics that any Pareto optimal allocation can be attained by a competitive general equilibrium.
A function mapping allocations of goods to the individuals in an economy to a level of welfare for the economy as a whole.
The mathematical function explaining the quantity supplied in terms of its various determinants, including price; thus the algebraic representation of the supply curve.
www-personal.umich.edu.cob-web.org:8888 /~alandear/glossary/s.html   (4898 words)

 A Quiet Revolution In Welfare Economics
Or, the social welfare function could be elaborated in a more subtle process by a "collective" political leadership such as a politburo, or central committee, or an entire vanguard political party.
We leave discussion of the advantages and disadvantages of democratic voting procedures for estimating the social welfare function to a later section.
In these circumstances it should be apparent that the likelihood of a democratic procedure for determining the social welfare function is minimal, as party, state, military, and economic elites seize control of the process of defining society's goals.
www.zmag.org /books/9/9b.htm   (8939 words)

 Amartya Sen   (Site not responding. Last check: 2007-11-04)
The origins of social choice theory can be traced back to the mathematical analysis of elections and committee decisions which started roughly two centuries ago.
The birth of modern social choice theory is due to Kenneth Arrow, the Nobel Laureate for Economics in 1971.
So, the utility information which is to be used to generate a given social ordering R is not a single n-tuple of utility functions, but a set of n-tuples of individual utilities which are informationally identical.
www.ias.ac.in /currsci/mar25/articles12.htm   (3040 words)

 Social Welfare Functions   (Site not responding. Last check: 2007-11-04)
The thing about social welfare functions is how they characterise social tradeoffs.
Briefly put, it is impossible to construct non-dictatorial welfare indices; all GPI-type measures are conditional on the subjective value judgments of the person who constructed the index.
I’ve looked at a few GPI sites, and none of them mention the term ‘social welfare function’, or even the theoretical difficulties posed by the Arrow Impossibility Theorem.
www.ecn.ulaval.ca /~sgor/babble/swf.htm   (513 words)

 SSRN-Efficient Social Welfare Function and Optimal Income Distribution by Jiandong Ju   (Site not responding. Last check: 2007-11-04)
By showing that increases in the sum of aggregate income and aggregate Marshallian consumer surplus represent potential Pareto improvement, this paper builds a theoretical ground for using aggregate Marshallian consumer surplus as a social welfare indicator.
It is found that the social cost of income distribution non-optimality in a perfect competitive market could be surprisingly high.
Finally, a new approach of social welfare function is developed and it is shown that a social welfare function can be expressed by the sum of aggregate income and aggregate Marshallian consumer surplus if and only if the marginal social welfare of a good is equal to its market price.
papers.ssrn.com /sol3/papers.cfm?abstract_id=304680   (348 words)

 The Market's Social Welfare Function: Archive Entry From Brad DeLong's Webjournal
The case tht uneven income distribution is bad given this linear SWF hinges on declining marginal utility (negative 2nd derivative).
And somewhere between a Benthamite SWF and a Rawlsian SWF (both consistent with Pareto's thinking) lies a whole host of nonlinear SWFs that would say unequal income distribution is undesirable even if the utility function does not exhibit a falling first derivative.
If u is a cardinal utility function, then all utility function representing the same preferences has the form a + b*u, where a is any real number and b positive.
www.j-bradford-delong.net /movable_type/2003_archives/002449.html   (5435 words)

 SSRN-Any Non-Individualistic Social Welfare Function Violates the Pareto Principle by Louis Kaplow, Steven Shavell   (Site not responding. Last check: 2007-11-04)
SSRN-Any Non-Individualistic Social Welfare Function Violates the Pareto Principle by Louis Kaplow, Steven Shavell
The public at large, many policymakers, and some economists hold views of social welfare that attach some importance to factors other than individuals' utilities.
This note shows that any such non-individualistic notion of social welfare conflicts with the Pareto principle.
papers.ssrn.com /sol3/papers.cfm?abstract_id=211088   (311 words)

 HES: QUERY -- History of the Social Welfare Function
On the Bergson-Samuelson SWF: Bergson A. (1966), Essays in Normative Economics, Harvard University Press, Cambridge.
Arrow K. (1983), "Contributions to Welfare Economics", in Brown, E. Solow, R. M., ed., Paul Samuelson and Modern Economic Theory, McGraw- Hill, New York, pp.
You can find some accounts of the history in various works of K. Arrow (especially in his personal recollections) and Amartya Sen. A heated debate on whether Arrow's Impossibility Theorem is relevant to Bergson-Samuelson SWF is shortly summarized, for example, in D. Mueller, "Public Choice III", CUP, 2003.
eh.net /pipermail/hes/2003-December/001108.html   (524 words)

 EconPapers: Inequality, Welfare and Monotonicity
Particularly simple results are available for a large class of inequality measures that includes the Gini.
These results do not require differentiability of the social welfare function.
This item may be available elsewhere in EconPapers: Search for items with the same title.
econpapers.repec.org /paper/cepstidar/29.htm   (189 words)

 Welfare economics - Wikipedia, the free encyclopedia
7 Welfare economics in relation to other subjects
[edit] Welfare economics in relation to other subjects
African Americans on the rise of welfare regonition in the southern states.
en.wikipedia.org /wiki/Welfare_economics   (2236 words)

 About the Right Weight of the Social Welfare Function when Needs Differ
Keywords: social welfare, equivalence scale, weights, anonymity, indirect utility function
"About the right weights of the social welfare function when needs differ," Economics Letters, Elsevier, vol.
I3 - Health, Education, and Welfare - - Welfare and Poverty
ideas.repec.org /p/iep/wpidep/0304.html   (301 words)

 Social Welfare Function
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Introduced by American economist ABRAM BERGSON (1914-2003) as a rejection of the cardinal utility approach to welfare economics, social welfare function is understood as meaning the determination of a society's taste for different economic states.
There are two approaches to the welfare function: first, that it is an imposed structure; second, that it devises a single constitutional/voting system which changes the rankings of the individual into a single society ranking.
www.economyprofessor.com /economictheories/social-welfare-function.php   (129 words)

 [No title]
³² Ró Ÿ¨The Rawlsian Principleª Ÿ Social Welfare is simply the welfare of the poorest person.(Rawls Theory of Justice 1971) The Maximin Rule. Maximize the income of the poorest person. For a society of identical agents with U > 0 and U 
Pareto comparisons are the only basis for social choice.
Even if one agent has a mild preference for xa whereas all other agents have a strong preference for state xb, xa and xb must be declared socially indifferent.
www.chass.utoronto.ca /~anderson/EWA_Lecture_1.ppt   (287 words)

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