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Bolker-Jeffrey Expected Utility Theory and Axiomatic Utilitarianism

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  • John Broome

Abstract

This paper introduces the Bolker-Jeffrey version of expected utility theory, which differs in several important respects from the versions commonly used by economists. Within the Bolker-Jeffrey theory, the paper proves a theorem first proved by Harsanyi: if social preferences are coherent and Paretian, and individual preferences are coherent, then social utility can be taken to be the sum of individual utilities. But the paper shows that in the Bolker-Jeffrey theory the proof requires very stringent assumptions. It assesses the significance of this fact.

Suggested Citation

  • John Broome, 1990. "Bolker-Jeffrey Expected Utility Theory and Axiomatic Utilitarianism," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 57(3), pages 477-502.
  • Handle: RePEc:oup:restud:v:57:y:1990:i:3:p:477-502.
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    File URL: http://hdl.handle.net/10.2307/2298025
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    Citations

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    Cited by:

    1. BLACKORBY, Charles & BOSSERT, Walter & DONALDSON, David, 2003. "Harsanyi's Social Aggregation Theorem : A Multi-Profile Approach with Variable-Population Extensions," Cahiers de recherche 03-2003, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
    2. Denant-Boèmont, L. & Petiot, R., 2003. "Information value and sequential decision-making in a transport setting: an experimental study," Transportation Research Part B: Methodological, Elsevier, vol. 37(4), pages 365-386, May.
    3. Gravel, Nicolas & Marchant, Thierry & Sen, Arunava, 2018. "Conditional expected utility criteria for decision making under ignorance or objective ambiguity," Journal of Mathematical Economics, Elsevier, vol. 78(C), pages 79-95.
    4. Mongin, Philippe, 1998. "The paradox of the Bayesian experts and state-dependent utility theory," Journal of Mathematical Economics, Elsevier, vol. 29(3), pages 331-361, April.
    5. McCarthy, David & Mikkola, Kalle & Thomas, Teruji, 2016. "Utilitarianism with and without expected utility," MPRA Paper 72578, University Library of Munich, Germany.
    6. Nicolas Gravel, 2019. "Richard Bradley, Decision Theory with a Human Face," Post-Print hal-02471153, HAL.
    7. L. Denant-Boèmont & R. Petiot, 2003. "Information value and sequential decision-making in a transport setting: an experimental study," Post-Print hal-02422690, HAL.
    8. Dorian Jullien, 2013. "Asian Disease-type of Framing of Outcomes as an Historical Curiosity," GREDEG Working Papers 2013-47, Groupe de REcherche en Droit, Economie, Gestion (GREDEG CNRS), Université Côte d'Azur, France.
    9. David McCarthy & Kalle Mikkola & Teruji Thomas, 2019. "Aggregation for potentially infinite populations without continuity or completeness," Papers 1911.00872, arXiv.org.
    10. Richard Bradley, 2003. "Axiomatic Bayesian Utilitarianism," Working Papers hal-00242956, HAL.
    11. Blackorby, Charles & Donaldson, David & Weymark, John A., 1999. "Harsanyi's social aggregation theorem for state-contingent alternatives1," Journal of Mathematical Economics, Elsevier, vol. 32(3), pages 365-387, November.
    12. Jordan Howard Sobel, 1998. "Ramsey's Foundations Extended to Desirabilities," Theory and Decision, Springer, vol. 44(3), pages 231-278, June.
    13. McCarthy, David & Mikkola, Kalle & Thomas, Teruji, 2020. "Utilitarianism with and without expected utility," Journal of Mathematical Economics, Elsevier, vol. 87(C), pages 77-113.

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