Supreme Court Economic Review
In this paper, we argue that social decision-making is subject to a fundamental conflict between consistency and completeness. We show that a consistent welfarist method of policy assessment, that is, one that never violates the Pareto principle, may be incomplete in the sense of being incapable of providing a solution to important social welfare problems.
Giuseppe Dari-Mattiacci & Nuno Garoupa,
The Unsolvable Dilemma of a Paretian Policymaker,
Sup. Ct. Econ. Rev.
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