Tuesday 11
Social Choice
Kaname Miyagishima
› 10:00 - 10:30 (30min)
› 603
Efficiency, Equity, and Social Rationality under Uncertainty
Kaname Miyagishima  1@  
1 : Aoyama Gakuin University

In a simple model where agents' monetary payoffs are uncertain, this paper studies the aggregation of uncertainty preferences which are ordinal and interpersonally noncomparable. A maximin social welfare criterion is derived from axioms of efficiency, equity, and social rationality, as well as separability of unconcerned agents and independence of risk preferences in riskless situations. The criterion compares allocations by the values of the prospects composed of the statewise minimum payoffs evaluated by the certainty equivalences.

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