The Fundamental Theorems of Welfare Economics in a Non-Welfaristic Approach

Koichi Tadenuma, 宏一 蓼沼, コウイチ タデヌマ and Yongsheng Xu

No 48, Discussion Paper from Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University

Abstract: This paper investigates extensions of the two fundamental theorems of welfare economics to the framework in which each agent is endowed with three types of preference relations: an allocation preference relation, an opportunity preference relation, and an overall preference relation. It is shown that, under certain conditions, the two theorems can be extended. It is also pointed out that the conditions underlying the positive results are restrictive.

JEL-codes: D63 D71 (search for similar items in EconPapers)
Pages: 18 pages
Date: 2002-01
Note: First Version: September 2001; This Version: January 2002
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Persistent link: https://EconPapers.repec.org/RePEc:hit:piedp1:48

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