Wilson's theorem for economic environments and continuous social preferences |
| |
Authors: | D E Campbell |
| |
Institution: | (1) Department of Economics, University of Toronto, 150 St. George St., M5S 1A1 Toronto, Canada |
| |
Abstract: | Wilson's generalization of Arrow's impossibility theorem has been proved for the realm of private goods and economic preferences by Border and by Bordes and Le Breton. However, their proofs require the exclusion of the zero vector from the commodity space. This paper assumes continuity of social preference to obtain the impossibility theorem for the entire allocation space, even if the society is infinite. A simple corollary reveals that there is some individual who is assigned the zero consumption vector at every social optimum whenever the social welfare function is nonnull and nonimposed, and satisfies Arrow's independence axiom and continuity and transitivity of social preference.Financial support from the Social Sciences and Humanities Research Council is gratefully acknowledged, as are the suggestions of Charles Plott and an anonymous referee. The author assumes responsibility for any errors. |
| |
Keywords: | |
本文献已被 SpringerLink 等数据库收录! |
|