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Utility and income transfer principles: Interplay and incompatibility

Abstract : In this paper, it is assumed that income does not have a linear correspondence with utility. Consequently, transfers of income and transfers of utility that could improve social welfare are studied. The conditions for the fulfillment of generalized income transfer principles, relevant to any given order of stochastic dominance, are determined. The result relies on Bell polynomials and states that an income transfer principle of any order does not necessarily satisfy the utility transfer principle of the corresponding order.
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Submitted on : Tuesday, December 3, 2019 - 5:47:09 PM
Last modification on : Wednesday, October 26, 2022 - 4:07:39 PM
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Marc Dubois, Stéphane Mussard. Utility and income transfer principles: Interplay and incompatibility. Mathematical Social Sciences, 2019, ⟨10.1016/j.mathsocsci.2019.05.001⟩. ⟨hal-02145100⟩



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