We propose endogenous, value preserving (VP) welfare weights as an alternative to equal weights utilitarianism. VP weights require that the contribution of an agent's endowments to social welfare is proportional to the contribution of the final allocation to his welfare. Under three axioms, the per unit contribution of a good to welfare is shown to equal the gradient of the welfare function. VP weights coincide with Negishi weights in frictionless environments but prescribe redistribution toward a good's owner when the good's social value exceeds its market value. When ability is treated as an endowment, VP weights reward ability and effort.

中文翻译：

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社会优化问题的价值保护福利权重

我们提出内生的、保值 (VP) 福利权重作为等权重功利主义的替代方案。VP 权重要求代理人的禀赋对社会福利的贡献与最终分配对其福利的贡献成正比。在三个公理下，商品对福利的每单位贡献被证明等于福利函数的梯度。VP 权重与无摩擦环境中的 Negishi 权重一致，但规定当商品的社会价值超过其市场价值时，将重新分配给商品的所有者。当能力被视为一种禀赋时，VP 权重奖励能力和努力。