Researchers cannot definitively interpret what the framers of the United States Constitution had in mind when they wrote of the general Welfare. Nevertheless, welfare economics can contribute to ...
One way to measure the social welfare of a market outcome under Pareto efficiency is to use a social welfare function (SWF). A SWF is a mathematical function that assigns a numerical value to ...
In this article, we investigate the problem of constructing a social welfare function that is non-manipulable. In this context, individuals attempt to manipulate a social ordering as opposed to a ...
If a social planner sets policy to maximize a social welfare function, then, except in extreme cases where the planner cares only about a single generation, successive generations will never be linked ...
This is the metadata section. Skip to content viewer section. James Buchanan wrote "An Economic Theory of Clubs" and invented clubs to support a form of welfare economics in which there is no social ...
Social Welfare Function,State Space,State Trajectories,Subsidies,Uncertain Information,Accurate Scale,Agent Dynamics,Agility,Algebraic Riccati Equation,Allan Deviation, Yuyue Yan (Member, IEEE) ...