Social welfare function
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In welfare economics, a social welfare function is a function that ranks social states (alternative complete descriptions of the society) as less desirable, more desirable, or indifferent for every possible pair of social states. Inputs of the function include any variables considered to affect the economic welfare of a society.
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See also
- Aggregation problem
- Gorman polar form
- Arrow's impossibility theorem
- Community indifference curve
- Distribution (economics)
- Economic welfare
- Extended sympathy
- Justice (economics)
- Liberal paradox
- Social choice theory
- Welfare economics
- Production-possibility frontier
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