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Benefit function and individual preferences. A generalization of the zero-maximum principle
Economics and Business Letters
View Archive Info| Field | Value | |
| Title |
Benefit function and individual preferences. A generalization of the zero-maximum principle
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| Creator |
Aparicio, Juan; University Miguel Hernandez of Elche, Spain
Pastor, Jesus T.; University Miguel Hernandez of Elche, Spain |
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| Description |
In this paper we show that given a utility threshold Luenberger’s benefit function correctly represents individual preferences as long as specific reference commodity bundles are considered. We further show a condition which is sufficient for reaching Pareto optimality that generalizes the zero-maximum principle proposed by Luenberger. Under our hypothesis, the social benefit could be positive, negative or zero, and not necessarily always zero.
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| Publisher |
Oviedo University Press
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| Contributor |
—
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| Date |
2012-03-22
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| Type |
info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion — |
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| Format |
application/pdf
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| Identifier |
http://www.unioviedo.es/reunido/index.php/EBL/article/view/9228
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| Source |
Economics and Business Letters; Vol 1, No 1 (2012): March; 12-20
Economics and Business Letters; Vol 1, No 1 (2012): March; 12-20 2254-4380 |
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| Language |
eng
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| Relation |
http://www.unioviedo.es/reunido/index.php/EBL/article/view/9228/9226
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| Rights |
Copyright (c) 2014 Economics and Business Letters
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