Who's afraid of aggregating money metrics?
用公理体系为加总货币度量提供正当性,核心公理要求批准保持总体效率的富向贫转移,结合匿名性、连续性、单调性和福利主义,刻画了基于货币度量效用的标准社会福利函数。
We provide an axiomatic justification to aggregate money metrics. The key axiom requires the approval of richer-to-poorer transfers that preserve the overall efficiency of the distribution. This transfer principle - together with the basic axioms of anonymity, continuity, monotonicity, and a version of welfarism - characterizes a standard social welfare function defined over money metric utilities.