%0 Journal Article
%T Benefit function and individual preferences. A generalization of the zero-maximum principle
%A Juan Aparicio
%A Jesus Pastor
%J Economics and Business Letters
%D 2012
%I Oviedo University Press
%X In this paper we show that given a utility threshold LuenbergerĄ¯s benefit function correctly represents individual preferences as long as specific reference commodity bundles are considered. We further show a condition which is sufficient for reaching Pareto optimality that generalizes the zero-maximum principle proposed by Luenberger.Under our hypothesis, the social benefit could be positive, negative or zero, and not necessarily always zero.
%K Benefit function
%K welfare economics
%K Pareto optimality
%K zero-maximum principle
%U http://www.unioviedo.es/reunido/index.php/EBL/article/download/9228/9226