The consistency of welfare judgements with a representative consumer
Autor(a) principal: | |
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Data de Publicação: | 1986 |
Outros Autores: | |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Institucional do FGV (FGV Repositório Digital) |
Texto Completo: | http://hdl.handle.net/10438/798 |
Resumo: | This paper is about economies with a representative consumer. In general a representative consumer need not exist, although there are several well known sets of sufficient conditions under which Qne will. It is common practice, however, to use the representative consumer hypothesis without specifically assuming any of these. We show, firstly, that it is possible for the utility of the representative consumer to increase when every actual consumer is made worse off. This shows a serious shortcoming of welfare judgements based on the representatíve consumer. Secondly, in economies where this does not occur, there exists a social welfare function, which we construct, which is consistent with welfare judgements based on the utility of the representative consumer. Finally we provide a converse to Samuelson' s 1956 representative consumer result, which relates it to Scitovsky's community indifference curves. |
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Dow, JamesWerlang, Sérgio Ribeiro da CostaEscolas::EPGEFGV2008-05-13T15:34:50Z2008-05-13T15:34:50Z19860104-8910http://hdl.handle.net/10438/798This paper is about economies with a representative consumer. In general a representative consumer need not exist, although there are several well known sets of sufficient conditions under which Qne will. It is common practice, however, to use the representative consumer hypothesis without specifically assuming any of these. We show, firstly, that it is possible for the utility of the representative consumer to increase when every actual consumer is made worse off. This shows a serious shortcoming of welfare judgements based on the representatíve consumer. Secondly, in economies where this does not occur, there exists a social welfare function, which we construct, which is consistent with welfare judgements based on the utility of the representative consumer. Finally we provide a converse to Samuelson' s 1956 representative consumer result, which relates it to Scitovsky's community indifference curves.engEscola de Pós-Graduação em Economia da FGVEnsaios Econômicos;87Todo cuidado foi dispensado para respeitar os direitos autorais deste trabalho. Entretanto, caso esta obra aqui depositada seja protegida por direitos autorais externos a esta instituição, contamos com a compreensão do autor e solicitamos que o mesmo faça contato através do Fale Conosco para que possamos tomar as providências cabíveisinfo:eu-repo/semantics/openAccessThe consistency of welfare judgements with a representative consumerinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleEconomiaConsumidores - PreferênciaBem-estar econômicoEconomiareponame:Repositório Institucional do FGV (FGV Repositório Digital)instname:Fundação Getulio Vargas (FGV)instacron:FGVORIGINAL87_000048936.pdf87_000048936.pdfapplication/pdf1424868https://repositorio.fgv.br/bitstreams/82221bf7-88ae-4288-920d-3b36fb7ba4d9/download6e86432ec4c954a1ee9711d8331da47dMD51TEXT87_000048936.pdf.txt87_000048936.pdf.txtExtracted texttext/plain63225https://repositorio.fgv.br/bitstreams/42ead55a-d3a2-4dc9-835e-2eda845e7d22/download422729eb370a89cb3b60dd8247a44ff8MD56THUMBNAIL87_000048936.pdf.jpg87_000048936.pdf.jpgGenerated Thumbnailimage/jpeg2206https://repositorio.fgv.br/bitstreams/00007691-7d9e-4c83-aeb0-320e41a71561/download8c5d4c66fbd96ebc85922e8cd0a125f8MD5710438/7982023-11-08 21:05:11.173open.accessoai:repositorio.fgv.br:10438/798https://repositorio.fgv.brRepositório InstitucionalPRIhttp://bibliotecadigital.fgv.br/dspace-oai/requestopendoar:39742023-11-08T21:05:11Repositório Institucional do FGV (FGV Repositório Digital) - Fundação Getulio Vargas (FGV)false |
dc.title.eng.fl_str_mv |
The consistency of welfare judgements with a representative consumer |
title |
The consistency of welfare judgements with a representative consumer |
spellingShingle |
The consistency of welfare judgements with a representative consumer Dow, James Economia Consumidores - Preferência Bem-estar econômico Economia |
title_short |
The consistency of welfare judgements with a representative consumer |
title_full |
The consistency of welfare judgements with a representative consumer |
title_fullStr |
The consistency of welfare judgements with a representative consumer |
title_full_unstemmed |
The consistency of welfare judgements with a representative consumer |
title_sort |
The consistency of welfare judgements with a representative consumer |
author |
Dow, James |
author_facet |
Dow, James Werlang, Sérgio Ribeiro da Costa |
author_role |
author |
author2 |
Werlang, Sérgio Ribeiro da Costa |
author2_role |
author |
dc.contributor.unidadefgv.por.fl_str_mv |
Escolas::EPGE |
dc.contributor.affiliation.none.fl_str_mv |
FGV |
dc.contributor.author.fl_str_mv |
Dow, James Werlang, Sérgio Ribeiro da Costa |
dc.subject.area.por.fl_str_mv |
Economia |
topic |
Economia Consumidores - Preferência Bem-estar econômico Economia |
dc.subject.bibliodata.por.fl_str_mv |
Consumidores - Preferência Bem-estar econômico Economia |
description |
This paper is about economies with a representative consumer. In general a representative consumer need not exist, although there are several well known sets of sufficient conditions under which Qne will. It is common practice, however, to use the representative consumer hypothesis without specifically assuming any of these. We show, firstly, that it is possible for the utility of the representative consumer to increase when every actual consumer is made worse off. This shows a serious shortcoming of welfare judgements based on the representatíve consumer. Secondly, in economies where this does not occur, there exists a social welfare function, which we construct, which is consistent with welfare judgements based on the utility of the representative consumer. Finally we provide a converse to Samuelson' s 1956 representative consumer result, which relates it to Scitovsky's community indifference curves. |
publishDate |
1986 |
dc.date.issued.fl_str_mv |
1986 |
dc.date.accessioned.fl_str_mv |
2008-05-13T15:34:50Z |
dc.date.available.fl_str_mv |
2008-05-13T15:34:50Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
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info:eu-repo/semantics/article |
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article |
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publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10438/798 |
dc.identifier.issn.none.fl_str_mv |
0104-8910 |
identifier_str_mv |
0104-8910 |
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http://hdl.handle.net/10438/798 |
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eng |
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eng |
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Ensaios Econômicos;87 |
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info:eu-repo/semantics/openAccess |
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openAccess |
dc.publisher.none.fl_str_mv |
Escola de Pós-Graduação em Economia da FGV |
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Escola de Pós-Graduação em Economia da FGV |
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