This article proposes a new social welfare measure based on Aristotle's theory of reciprocity. Unlike existing metrics of social welfare, the proposed Aristotelian social welfare function measures ...

A new approach is developed to identify marginal tax reforms for pairs of commodities and to test for the robustness of their impacts on Yaari's dual social welfare functions. The rank-dependent ...

Evaluating climate policy requires a method for navigating trade-offs. The most systematic such method is the ‘social welfare function’ (SWF) approach, which is widely used both in the economic ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Robert Kelly is managing director of XTS ...

While income inequality has been rising in a number of rich and developing countries, the trend is not universal, with inequality staying the same in some countries, and falling in others. Over the ...

Download PDF More Formats on IMF eLibrary Order a Print Copy Create Citation The inclusiveness of growth depends on the extent of access to economic and social opportunities. This paper applies the ...

Citations: Satterthwaite, Mark. 1975. Strategy-Proofness and Arrow's Conditions: Existence and Correspondence Theorems for Voting Procedures and Social Welfare Functions. Journal of Economic Theory.