Marketing & Branding |
My vision |
Equity Investments: Hot Stocks |
5 more ...|
|
||
|
Activity:
3 comments
110 views
last activity : 07 06 2010 20:18:04 +0000
|
||
|
|
A Sovereign Nation lives in harmony and peace when the ‘living standards’ of it’s citizen is better and is improving. This happens when the ‘Utility’ derived from life in a Nation improves in time.
Social Welfare Function defines and helps in generating conscionable policies when this is kept in mind when generating them which is called ‘public good’.
Suppose if call ‘ω’ the endowment of each individual, α his return on his endowment each year and Π the risk in generating this return then social welfare function is defined as a Utility maximiser for each individual which is function of these variables.
n
Ie; U = Σ (Πi αi ωi )
i= 1
This is an affine function which grows at decreasing rate when we normalize this using Lagrnagian. The Lagrangian multiplier λi is higher for lower endowed entities than for higher endowed entities in a population of n. Now incorporating the reciprocal of α in the social welfare function probity is included in it meaning rich people highly endowed make lesser returns than poor people lowly endowed for social probity.
This means for social public good the social welfare function should hold in our policies, social, economic and in our transactions

|
|
|
|
|
|
|
|
|
|
|
|
It depends on what sort of work. Healthcare professionals cannot forefeit night duties. Toruism and outsoruced work gets done sometimes during night shifts. If we had state of the art campuses female students need to use the library during late hours,... |
Are we all bored to try out different changes without knowing why one has to do it or if need be what is the reason for it?What is the need for so many divisions, since each state is divided into districts which are like mini states. The country has... |
Yes, thanks, there need be 'rational choices' available for a budding youngster from cradle to coffin. This is the only way economic theory prescribes normal life for citizen. This might breakdown the family oriented choices in India then it will be... |