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Who’s afraid of aggregating money metrics?

Journal Contribution - Journal Article

Copyright © 2018 The Authors. We provide an axiomatic justification to aggregate money metrics. The key axiom requires the approval of richer-to-poorer transfers that preserve the overall efficiency of the distribution. This transfer principle—together with the basic axioms of anonymity, continuity, monotonicity, and a version of welfarism—characterizes a standard social welfare function defined over money metric utilities.
Journal: Theoretical Economics
ISSN: 1933-6837
Issue: 2
Volume: 13
Pages: 467 - 484
Publication year:2018
BOF-keylabel:yes
IOF-keylabel:yes
BOF-publication weight:1
CSS-citation score:1
Authors:International
Authors from:Higher Education
Accessibility:Open