Social welfare functions can be formed in many ways. They can be additive, meaning that the all utilities are added together. They can incorporate the idea of maximin, meaning that the utility of the person with the least is maximized. If you were a central planner for an economy, what type of social welfare function would you create?

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The Answer of Social welfare functions can be formed in many ways. They can be additive, meaning that the all utilities are added together. They can incorporate the idea of maximin, meaning that the utility of the person with the least is maximized. If you were a central planner for an economy, what type of social welfare function would you create?

Social Welfare Functions Can Be Formed in Many Ways