When the outcome space X is a product set, the Paretian-liberal conflict depends on a special cycle of externalities. Even if the society is countably infinite, the inconsistency vanishes if the individuals can be numbered so that person I does not care about the actions of any h < i, although we assume that the liberal constraint is binding only on finite coalitions.
|Original language||English (US)|
|Number of pages||12|
|State||Published - Aug 1997|
ASJC Scopus subject areas
- Economics and Econometrics