Egoism

Second Welfare Theorem

Some (unplausible) preferences have to be ruled out:

Example

Hateful Society:Ui=mi− 2 mjfor two agentsi 6 =j. No consumption is

efficient.

Social Monotonicity

Forz∈RL+\{ 0 }and any allocationx, there exists a redistribution (zi)

with

∑

zi=zsuch that

Ui(x+z)>Ui(x)