A foundation for Pareto optimality

Conal Duddy and Ashley Piggins ()

Journal of Mathematical Economics, 2020, vol. 88, issue C, 25-30

Abstract: Can an axiomatic justification be given for the requirement that society picks all and only Pareto optimal alternatives at each profile of individual preferences? Using the framework of fixed-agenda social choice theory, we present a characterization of the Pareto optimal social choice correspondence. We introduce a new independence condition, P-independence. When combined with three natural assumptions, P-independence leads to the conclusion that the social choice set and the Pareto optimal set are the same.

Keywords: Pareto optimal social choice correspondence; Fixed agenda; Oligarchy; P-oligarchy; P-independence (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:mateco:v:88:y:2020:i:c:p:25-30

DOI: 10.1016/j.jmateco.2020.02.005

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