The Bergson-Samuelson Social Welfare Function
Up till now we’ve defined the social welfare functions over entire allocations (i.e., each person have an opinion about what all other persons get). If we assume that each individual is concerned only with him-/her we can define the social welfare functions only over the individual bundles,
W=W(u1(x1), ...,un(xn)).
This type of social welfare function is called a Bergson−Samuelson social welfare function, or an individualistic social welfare function (for obvious reasons). The important point of this function is that it conforms to the (implicit) assumptions that we’ve made in the proof of the first fundamental theorem of welfare economics, that there are no consumption externalities. Remember that the first theorem states that general competitive market equilibrium is Pareto-efficient. Now, if we use the Bergson-Samuelson social welfare function to pick the best point on the utility possibility frontier, this point is associated with competitive market equilibrium, and could be implemented as such given that lump-sum taxes can be used to redistribute initial endowments.
Latest technology based Economics Online Tutoring Assistance
Tutors, at the www.tutorsglobe.com, take pledge to provide full satisfaction and assurance in Intermediate Microeconomics homework help via online tutoring. Students are getting 100% satisfaction by online tutors across the globe. Here you can get homework help for Intermediate Microeconomics, project ideas and tutorials. We provide email based Intermediate Microeconomics homework help. You can join us to ask queries 24x7 with live, experienced and qualified online tutors specialized in Intermediate Microeconomics. Through Online Tutoring, you would be able to complete your homework or assignments at your home. Tutors at the TutorsGlobe are committed to provide the best quality online tutoring assistance for Economics homework help and assignment help services. They use their experience, as they have solved thousands of the Computer assignments, which may help you to solve your complex issues of Intermediate Microeconomics. TutorsGlobe assure for the best quality compliance to your homework. Compromise with quality is not in our dictionary. If we feel that we are not able to provide the homework help as per the deadline or given instruction by the student, we refund the money of the student without any delay.
tutorsglobe.com nutrition in fungi assignment help-homework help by online fungi tutors
Theory and lecture notes of Hypothesis test all along with the key concepts of Hypothesis test, homework help, assignment help and hypothesis testing tutors. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Hypothesis test.
There is nothing to prevent a business generating a comprehensive set of financial statements for the interim period, even though considerations of cost and timeliness will generally make this not practical.
theory of wall-hugging robot all along with the key concepts of the wall-hugging robot, finite state machines. tutorsglobe offers homework help, assignment help and tutor’s assistance on tutorsglobe offers homework help, assignment help and tutor’s assistance on the wall-hugging robot.
hire medieval philosophy assignment help at affordable rates and add a feather to your hat by scoring well!
tutorsglobe.com impact of air pollution on human health assignment help-homework help by online air pollution tutors
tutorsglobe.com leishmania assignment help-homework help by online medical parasitology tutors
Theory and lecture notes of Counter Automata all along with the key concepts of counter automata, Finite Automata with External Storage, Parenthesis expressions, parenthesis-free notation. Tutorsglobe offers homework help, assignment help and tutor’s assistance on Counter Automata.
tutorsglobe.com software metrics assignment help-homework help by online software engineering tutors
Fraunhofer Diffraction tutorial all along with the key concepts of Diffraction at a Single Slit, Observed Pattern, Diffraction by a circular aperture and Diffraction by a rectangular aperture
tutorsglobe.com muscle pull assignment help-homework help by online muscles tutors
Interactions within Ecosystems tutorial all along with the key concepts of Types of Interactions, Predator-Prey Interaction, Symbiotic Interactions, Competition, Interspecific Competition and Intraspecific Competition
tutorsglobe.com meiosis-ii assignment help-homework help by online meiosis tutors
www.tutorsglobe.com offers charge distribution in molecules homework help, charge distribution in molecules assignment help, online tutoring assistance, organic chemistry solutions by online qualified tutor's help.
biology tutorial tutorial all along with the key concepts of detection of virus infected cells, cultivation, purification of viral particles, centrifugation, sedimentation coefficient, types of sedimentation medium, methods for assessing the purity of virions and identification of a viral particle
1935689
Questions Asked
3689
Tutors
1493563
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!