Benefit function and individual preferences. A generalization of the zero-maximum principle
Juan Aparicio () and
Economics and Business Letters, 2012, vol. 1, issue 1, 12-20
In this paper we show that given a utility threshold Luenbergerâ€™s benefit function correctly represents individual preferences as long as specific reference commodity bundles are considered. We further show a condition which is sufficient for reaching Pareto optimality that generalizes the zero-maximum principle proposed by Luenberger. Under our hypothesis, the social benefit could be positive, negative or zero, and not necessarily always zero.
References: View references in EconPapers View complete reference list from CitEc
Citations Track citations by RSS feed
Downloads: (external link)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:ove:journl:aid:9228
Access Statistics for this article
Economics and Business Letters is currently edited by Francisco J. Delgado
More articles in Economics and Business Letters from Oviedo University Press Contact information at EDIRC.
Series data maintained by Francisco J. Delgado ().