The object was "to state in precise form the value judgments required for the derivation of the conditions of maximum economic welfare" set out by earlier writers, including Marshall and Pigou, Pareto and Barone, and Lerner.
•
Abram Bergson (Burk),"A Reformulation of Certain Aspects of Welfare Economics," Quarterly Journal of Economics, 52(2), February 1938, 310-34
Social Democratic Party of Germany | Social Democratic Party | social media | The Social Network | Social Democrats | Social Security Administration | Social Democratic Party (UK) | social democracy | Swedish Social Democratic Party | Social Distortion | Chinese Academy of Social Sciences | Social Democrat Radical Party | social | Catholic social teaching | Social democracy | Faculty of Humanities and Social Sciences, University of Zagreb | Broken Social Scene | Social Security | Social Science Research Council | Green function | Graph of a function | Economic and Social Research Council | social network | Social Democratic Party of Austria | Hash function | Social Security (United States) | Social Democratic Party (Portugal) | Schur function | Social learning theory | Social Democratic Party (Romania) |
One way to calculate how costly this greater volatility is in terms of individual (or, under some restrictive conditions, social) welfare is to ask what percentage of her annual average consumption would an individual be willing to sacrifice in order to eliminate this volatility entirely.
; Unrestricted domain: (or universality) For any set of individual voter preferences, the social welfare function should yield a unique and complete ranking of societal choices.