This paper introduces the Bolker-Jeffrey version of expected utility theory, which differs in several important respects from the versions commonly used by economists. Within the Bolker-Jeffrey theory, the paper proves a theorem first proved by Harsanyi: if social preferences are coherent and Paretian, and individual preferences are coherent, then social utility can be taken to be the sum of individual utilities. But the paper shows that in the Bolker-Jeffrey theory the proof requires very stringent assumptions. It assesses the significance of this fact.

Journal Article An Important Theorem on Income Tax Get access John Broome John Broome Birkbeck College Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 42, Issue 4, October 1975, Pages 649–652, https://doi.org/10.2307/2296802 Published: 01 October 1975