Social Welfare Functions and Income Distributions
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 661)
Old welfare economics, Pigou (1920), considered social welfare as a cardinal notion, while new welfare economics,Little(1950) and Graaff (1957), consider social welfare as an ordinal notion.
KeywordsSocial Welfare Income Distribution Welfare Economic Economic Agent Social Welfare Function
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