[UTMD-049] “Near” weighted utilitarian characterizations of Pareto optima (by Yeon-Koo Che, Jinwoo Kim, Fuhito Kojima, Christopher Thomas Ryan)
Yeon-Koo Che, Jinwoo Kim, Fuhito Kojima, Christopher Thomas Ryan
We characterize Pareto optimality via “near” weighted utilitarian welfare maximization. One characterization sequentially maximizes utilitarian welfare functions using a finite sequence of nonnegative and eventually positive welfare weights. The other maximizes a utilitarian welfare function with a certain class of positive hyperreal weights. The social welfare ordering represented by these “near” weighted utilitarian welfare criteria are characterized by the standard axioms for weighted utilitarianism under a suitable weakening of the continuity axiom.