Alternative derivation of the leximin principle

Osamu Mori

Economics Letters, 2014, vol. 124, issue 1, 157-159

Abstract: This note provides an alternative derivation of the leximin principle using the framework of Harsanyi’s (1953) equi-probability model. We demonstrate that the leximin principle is concluded if and only if the preference ordering of the impartial observer obeys strong monotonicity and complete risk aversion.

Keywords: Leximin; Observer; Lottery; Risk aversion (search for similar items in EconPapers)
JEL-codes: D63 D71 D81 (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:124:y:2014:i:1:p:157-159

DOI: 10.1016/j.econlet.2014.05.004

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