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Search "Social welfare function"
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Social welfare function | |
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About 7 pages (2,072 words) in 3 products |
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Encyclopedia and Summary Information
 summary from source:
 Bergson Social Welfare Function : Economics Topics
80 words, approx. 1 pages The welfare of a community in a given time period expressed as a function of the amounts of consumer goods produced, the amounts of labour and non-labour factor inputs and the production unit for which the work is performed. BERGSON, in his approach,... summary from source:
Social Welfare Function : Economics Topics
71 words, approx. 1 pagesThe total well-being of a society as a function of its resource allocation. Originally this was regarded as the sum of individual utilities but ARROW showed the impossibility of this when individuals have divergent opinions. The four conditions of... summary from source:
 Social welfare function Information
1,921 words, approx. 6 pages
In economics a social welfare function can be defined as a real-valued function that ranks conceivable social states (alternative complete descriptions of the society) from lowest on up as to welfare of the society. Inputs of the function include any... 
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