 Construction of a social welfare function under consideration of conditional self-interestSabine Spangenberg and David M. Munyinyi International Journal of Happiness and Development, 2021, vol. 6, issue 3, 263-284 Abstract: Welfare functions have largely been constructed on the assumption that individuals' utilities can be aggregated into collective utility. This paper considers an alternative approach providing implications for the definition of social values and the understanding of welfare. The conditional self-interest will be juxtaposed the consideration of moral sense and benevolence. This will inform further on the limitations of utilitarian assumptions. A kinder approach to human nature generates varied assumptions and an alternative understanding of social phenomena. A de-individualised redefinition of social states is necessary to arrive at a true set of social options. We will demonstrate by parameterising the societal welfare function as a continuous functional relationship whose input variables are society individuals and whose actions or contributions are constrained by intrinsic societal factors. The analysis of the resultant welfare function shows that consideration for others and constrained self-interest will act to enhance societal benefit. Keywords: social welfare function; conditional self-interest; benevolence; social optimum. (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ids:ijhdev:v:6:y:2021:i:3:p:263-284 Access Statistics for this article More articles in International Journal of Happiness and Development from Inderscience Enterprises Ltd |
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