Peer-Reviewed Journal Details
Mandatory Fields
Piggins, A,Salerno, G
2016
December
Economics Letters
Sen Cycles and Externalities
Published
Optional Fields
Sen's impossibility theorem Liberal paradox Saari-Petron theorem Externalities Social preference cycles LIBERAL PARADOX THEOREM
149
25
27
Sen's (1970) theorem on the impossibility of a Paretian liberal depends on the presence of externalities. Saari and Petron (2006) show that for any Sen cycle, every decisive individual suffers at least one strong negative externality. We show that this result only holds when individual preferences are strict. We prove a general theorem for the case of weak preferences. (C) 2016 Elsevier B.V. All rights reserved.
10.1016/j.econlet.2016.10.007
Grant Details
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