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Transfer principles and relative inequality aversion a majorization approach
This paper characterizes two preorders over vectors, representing here income distributions, which, for the case of an order-preserving additive welfare function
W=∑
1
n
u(
x
i
), correspond to the increasing concave functions
u which are more concave than
u(
x)=ln
x and than
u(
x)=−1/
x, respectively. We provide a characterization of those
W functions that is quite distinct from the one recently provided by Fleurbaey and Michel,
Mathematical Social Sciences, 2001. The two sets of results are shown to be complementary