An axiomatic approach to consumers' welfare

Reinhard Selten; Eyal Winter

doi:10.1016/0165-4896(94)00728-4

An axiomatic approach to consumers' welfare

Reinhard Selten, Eyal Winter^*

^*Corresponding author for this work

Department of Economics

Research output: Contribution to journal › Article › peer-review

Abstract

This paper addresses the issue of consumers' welfare using an axiomatic approach, and avoiding the assumption of utility maximization. We take here the demand function as a primitive, and construct a measure for the consumers' welfare from a change of prices. This is done by imposing a set of axioms on this measure which uniquely determines it.

Original language	English
Pages (from-to)	19-30
Number of pages	12
Journal	Mathematical Social Sciences
Volume	27
Issue number	1
DOIs	https://doi.org/10.1016/0165-4896(94)00728-4
State	Published - Feb 1994

Keywords

Axiomatic approach
Demand function
Measure
Welfare

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10.1016/0165-4896(94)00728-4

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An axiomatic approach to consumers' welfare

Abstract

Keywords

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