Suppes-Sen dominance, generalised Lorenz dominance and the welfare economics of competitive equilibrium: Some examples

• 成果类型: Article
• 署名作者: Madden, P
• 刊物名称: JOURNAL OF PUBLIC ECONOMICS
• ISSN/ISSBN: 0047-2727
• DOI: 10.1016/0047-2727(95)01560-4
• 发表日期: 1996
• 页码: 247-262
• 关键词: dominance; competitive equilibrium; Suppes-Sen; generalised Lorenz

摘要

This paper studies two quasi-orderings in the context of three simple equilibrium models; a general equilibrium model with identical consumers, a model of an artisan economy, and an education model. The first quasi-ordering is induced by Suppes-Sen dominance (or first-degree stochastic dominance) amongst utility vectors of individuals, and the second evolves from generalised Lorenz dominance (second-degree stochastic dominance) similarly applied. It is shown how Pareto-efficient competitive equilibria may or may not be Suppes-Sen optima/generalised Lorenz optima, and it is suggested that this information is valuable for welfare analysis.