Conditions for extrapolating differences in consumption to differences in welfare.

We characterize conditions under which a better consumption distribution implies higher welfare. Specifically, here "better consumption" means first‐order stochastic dominance, and "higher welfare" means higher expected utility for every subpopulation of individuals with the same utility function. A...

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Bibliographic Details

Published in:	Economic Inquiry Vol. 62; no. 3; pp. 1090 - 1105
Main Authors:	Zhao, Wei, Kaplan, David M.
Format:	Article
Published:	Wiley-Blackwell Jul2024
Subjects:	Social dominance Stochastic dominance Expected utility Utility functions Physical distribution of goods
Online Access:	View this record in EBSCOhost