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Unformatted text preview: among ( 1 , . . . , n ) (with ties broken in some predetermined way). Axioms Once again we use the axiomatization methodology. We suggest a set of axioms on social welfare functions and study their implica-tions. Let F be an SWF. Condition Par (Pareto): For all x , y X and for every prole ( i ) i N , if x i y for all i then x y . The Pareto axiom requires that if all individuals prefer one alter-native over the other, then the social preferences agree with the individuals. Condition IIA (Independence of Irrelevant Alternatives): For any pair x , y X and any two proles ( i ) i N and ( i ) i N if for all i, x i y iff x i y , then x % y iff x % y ....
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This note was uploaded on 12/29/2011 for the course ECO 443 taught by Professor Aswa during the Fall '10 term at SUNY Stony Brook.
- Fall '10