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I am deeply indebted to Professors William Baumol, Harold Kuhn and Oskar Morgenstern for their many helpful suggestions and comments. The responsibility for any errors which may remain is, of course, mine. I am also grateful for the financial assistance of the National Science Foundation whose grant to the project “Dynamics of the Firm“ helped to make this paper possible.
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Pearsall, E.S. Social welfare functions — an axiomatic approach. Zeitschr. f. Nationalökonomie 25, 278–286 (1965). https://doi.org/10.1007/BF01319529
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DOI: https://doi.org/10.1007/BF01319529