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Microeconomics

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Rawlsian Social Welfare Function

MICRO-LK0PBN

The Rawlsian ethical theory has two principals:

1) each individual should have an equal right to as many basic liberties so long as these liberties did not restrict liberties for others, and

2) resources should be arranged to maximize the benefits of the least-advantaged with regards to social and economic assets.

Which of the following social welfare functions is Rawlsian? $U_1$ represents the utility of person 1, $U_2$ represents the utility for person 2, etc.

A

$U_1 + U_2 +…$

B

$U_1 * U_2 * U_3 *…$

C

$min \{ U_1,U_2,…\}$

D

$max\{U_1,U_2,…\}$