Article
On the Unsolved Dilemma of a Paretian Policymaker
Supreme Court Economic Review
(2008)
Abstract
In this paper, we argue that social decision-making is subject to a fundamental conflict between consistency and completeness. We show that a consistent welfarist method of policy assessment, that is, one that never violates the Pareto principle, may be incomplete in the sense that it is incapable of providing a solution to important social welfare problems. Legal policy consequences are discussed.
Keywords
- Kaplow and Shavell's welfare versus efficiency,
- Pareto principle,
- completeness
Disciplines
- Law and
- Law and Economics
Publication Date
2008
Citation Information
Giuseppe Dari-Mattiacci and Nuno Garoupa. "On the Unsolved Dilemma of a Paretian Policymaker" Supreme Court Economic Review Vol. 16 (2008) p. 117 - 126 Available at: http://works.bepress.com/nunogaroupa/99/