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Keeney, R.L. (1975). A Group Preference Axiomatization with Cardinal Utility. IIASA Research Memorandum. IIASA, Laxenburg, Austria: RM-75-047
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Abstract
Given a group composed of N individuals and given a von Neumann-Morgenstern utility function for each individual in the group, how can these be aggregated to obtain a group von Neumann-Morgenstern utility function. The implications of a set of axioms, analogous to Arrow's, using individual cardinal utilities--rather than Arrow's ordinal rankings--are investigated. The result is a group cardinal utility function which explicitly requires interpersonal comparison of preference. Suggestions for who should make these comparisons and how they might be done are given.
| Item Type: | Monograph (IIASA Research Memorandum) |
|---|---|
| Research Programs: | System and Decision Sciences - Core (SDS) |
| Depositing User: | IIASA Import |
| Date Deposited: | 15 Jan 2016 01:42 |
| Last Modified: | 27 Aug 2021 17:08 |
| URI: | https://pure.iiasa.ac.at/469 |
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