Abstract

The paper discusses an alternative approach to social choice problems. By means of a distance function, a representation of a social preference is derived as an optimal compromise in the sense of minimizing the sum of the distances to the individual utility functions. It is shown that metrics are not suitable as distance functions in this framework. Using a quadratic distance function as an example, the utilitarian social welfare functional is characterized as an optimal compromise. The informational requirements necessary for the consistency of this optimal compromise are examined.

Full Text
Paper version not known

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.