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Who's afraid of aggregating money metrics?

Kristof Bosmans, Koen Decancq () and Erwin Ooghe

No 551153, Working Papers of Department of Economics, Leuven from KU Leuven, Faculty of Economics and Business (FEB), Department of Economics, Leuven

Abstract: We provide an axiomatic justification to aggregate money metrics. The key axiom requires the approval of richer-to-poorer transfers that preserve the overall efficiency of the distribution. This transfer principle, together with the basic axioms anonimity, continuity, monotonicity, and a version of welfarism, characterizes a standard social welfare function defined over money metric utilities.

Date: 2016-09
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Published in Discussion paper series, DPS16.22 pages:1-22

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Related works:
Journal Article: Who's afraid of aggregating money metrics? (2018) Downloads
Working Paper: Who’s afraid of aggregating money metrics? (2016) Downloads
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