Consider the preferences (and thus the utility function) studied in class, i.e., Ui(ci, G) = 2(ci)...

Transcribed Image Text:

Consider the preferences (and thus the utility function) studied in class, i.e., Ui(ci, G) = 2(ci) 1/2 + G. If the benevolent dictator was maximizing a Rawlsian social welfare function, which level of public good would she choose? How would your answer change if she was maximizing a multiplicative/Nash social welfare function. Consider the preferences (and thus the utility function) studied in class, i.e., Ui(ci, G) = 2(ci) 1/2 + G. If the benevolent dictator was maximizing a Rawlsian social welfare function, which level of public good would she choose? How would your answer change if she was maximizing a multiplicative/Nash social welfare function.

Answer rating: 100% (QA)

Rawlsian Social Welfare Function Under a Rawlsian social welfare functionthe benevolent dictator would focus on maximizing the wellbeing of the least ... View the full answer