"Near" Weighted Utilitarian Characterizations of Pareto Optima

2020/08/25 by Yeon‐Koo Che, Che, Yeon-Koo, Jinwoo Kim +5 · 2 citations
Decision Sciences · #Decision-Making and Behavioral Economics #FOS: Economics and business #Theoretical Economics (econ.TH)

paper · pdf · doi:10.48550/arxiv.2008.10819

openalex publication_date 2020/08/25 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28

Abstract

We characterize Pareto optimality via "near" weighted utilitarian welfare maximization. One characterization sequentially maximizes utilitarian welfare functions using a finite sequence of nonnegative and eventually positive welfare weights. The other maximizes a utilitarian welfare function with a certain class of positive hyperreal weights. The social welfare ordering represented by these "near" weighted utilitarian welfare criteria is characterized by the standard axioms for weighted utilitarianism under a suitable weakening of the continuity axiom.

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