Rawlsian Welfare
Definition
Social welfare equals the well-being of the worst-off member. Justified by Rawls's veil of ignorance.
Example
A Rawlsian planner maximizes the minimum — the maximin criterion.
Social welfare equals the well-being of the worst-off member. Justified by Rawls's veil of ignorance.
A Rawlsian planner maximizes the minimum — the maximin criterion.