Guadeloupe Map

Country Travel Economy


Social welfare function. This term has been used in economics in two senses. 1. As defined by a. bergson and p. a. samuelson, it is a mathematical relationship which associates a number with any allocation of commodities among consumers. The relationship will reflect some particular set of value judgements concerning the well-being of different consumers, and underlying it is a preference ordering over alternative allocations. The higher a particular allocation is in the ordering, the higher the number it will be assigned by the social welfare function. Different sets of value judgements will of course imply different social welfare functions in this sense. The concept of the social welfare function was proposed to enable economists to conduct analysis of the desirability of particular resource allocations in as objective a way as possible. Before desirability’ can be discussed it is necessary to have a set of value judgements to define what should be regarded as good or bad. By expressing these in terms of a social welfare function the economist can examine the consequences of different kinds of value judgements without himself being committed to any of them. This is then likely to be a more open and healthy analytical procedure than one by which an economist begins with a commitment to one specific set of value judgements and makes policy prescriptions accordingly. Economists should then stand ready to analyse the implications of anybody’s value judgements by representing them as a social welfare function. 2. In a fundamental analysis of the possibility of the existence of a social welfare function of the Bergson-Samuelson type just described, or rather more generally of the preference ordering over resource allocations which underlies it, k. j. arrow in fact introduced a second meaning of the term. Arrow defined a social welfare function as a set of procedures for devising a social preference ordering, given the preference orderings possessed by the individuals in society. Arrow’s concept of a social welfare function is therefore akin to a constitution’, i.e. a set of rules for transforming the opinions and desires of the members of a social group into concrete choices made from the alternatives which confront that group. The degree of abstraction with which Arrow pursued his analysis was such that his conclusions are applicable to all social groups, from the executive board of a large company to H.M. government or the Security Council of the United Nations, and to all types of constitution, from simple majority voting to complex voting schemes. Arrow posed the following question. Suppose we require of our constitution that it possess certain

Guadeloupe Political Map Political Map of Guadeloupe Political …

Guadeloupe Map Photo Gallery

Guadeloupe map CARIBBEAN – Country map of Guadeloupe

Guadeloupe Map / Carte

Guadeloupe Atlas: Maps and Online Resources

Leave a Reply

63 − = 55