Aggregation of Paretian preferences for independent individual uncertainties

Antoine Billot and Vassili Vergopoulos ()
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Vassili Vergopoulos: CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique, PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École nationale des ponts et chaussées - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement

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Abstract: This paper considers situations of social choice where the resolution of the uncertainty affecting each individual is independent of the resolution of the uncertainty affecting all other individuals. Individuals as well as society itself have Subjective Expected Utility preferences, and society conforms to a set of Pareto-like requirements. In this case, the social utility function must be a convex combination of individual utility functions, thereby extending the logic of Harsanyi's (JPE 63:309–321, 1955) seminal aggregation theorem. Moreover, the social probabilistic beliefs must be the independent product of individual probabilistic beliefs

Keywords: Utilitarianism; Prior heterogeneity; Pareto condition; Bayesianism (search for similar items in EconPapers)
Date: 2016
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Citations: View citations in EconPapers (10)

Published in Social Choice and Welfare, 2016, pp.1-12. ⟨10.1007/s00355-016-1001-0⟩

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Related works:
Journal Article: Aggregation of Paretian preferences for independent individual uncertainties (2016)
Working Paper: Aggregation of Paretian preferences for independent individual uncertainties (2016)
Working Paper: Aggregation of Paretian preferences for independent individual uncertainties (2016)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:pseptp:hal-01396514

DOI: 10.1007/s00355-016-1001-0

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