Well, instead it concerns an “individual welfare function” that an individual is supposed to maximize, and the individual is assumed to be composed of VNM-rational subindividuals. Sure, it’s a different flavor, but is there anything else different?
It only assumes the VNM-rational subindividuals, and derives the existence of the overall welfare function.
Well, instead it concerns an “individual welfare function” that an individual is supposed to maximize, and the individual is assumed to be composed of VNM-rational subindividuals. Sure, it’s a different flavor, but is there anything else different?
It only assumes the VNM-rational subindividuals, and derives the existence of the overall welfare function.