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“Near” Weighted Utilitarian Characterizations of Pareto Optima

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  • Yeon‐Koo Che
  • Jinwoo Kim
  • Fuhito Kojima
  • Christopher Thomas Ryan

Abstract

We give two characterizations of Pareto optimality via “near” weighted utilitarian welfare maximization. One characterization sequentially maximizes utilitarian welfare functions using a finite sequence of nonnegative and eventually positive welfare weights. The other maximizes a utilitarian welfare function with a certain class of positive hyperreal weights. The social welfare ordering represented by these “near” weighted utilitarian welfare criteria is characterized by the standard axioms for weighted utilitarianism under a suitable weakening of the continuity axiom.

Suggested Citation

  • Yeon‐Koo Che & Jinwoo Kim & Fuhito Kojima & Christopher Thomas Ryan, 2024. "“Near” Weighted Utilitarian Characterizations of Pareto Optima," Econometrica, Econometric Society, vol. 92(1), pages 141-165, January.
    • Handle: RePEc:wly:emetrp:v:92:y:2024:i:1:p:141-165
    DOI: 10.3982/ECTA18930
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    References listed on IDEAS

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    3. Mas-Colell, Andreu & Whinston, Michael D. & Green, Jerry R., 1995. "Microeconomic Theory," OUP Catalogue, Oxford University Press, number 9780195102680.
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