Engineering Applications of Social Welfare Functions
Munoz, Francisco / Lee, Seokcheon / Nayak, Ashutosh
This book presents social welfare functions as a unified multidisciplinary framework for various resource allocation problems. By measuring the impact of local decisions on broader society, social welfare functions enable ¿socialized¿ decisions and thereby produce an emergent property that ¿global¿ balance and welfare emerge from ¿local¿ welfare-maximizing behaviors. Social welfare functions are originally used in economics to quantify income ...
