Question

Clearly type out your answer to parts (A), (B) and (C). A community consists of 5 people. Their elected representative wants to maximize a social welfare function that rewards good students. (A) Given an example of a welfare function that would accomplish the representative's goal. (B) Would it result in equality? (C) What is a way to incentivize studying and create more equality?

Answer 1

A) A function that focuses on providing education to every underprivileged child. It incorporates community mobilization in which the premium members of the society will come together for the noble cause. It will help in raising funds for the underprivileged children and this helps the student to get an education which is a mandate for them. This program for the social welfare will be a platform for rewarding the good students as they will be recognized by the society and they will also feel motivated and resected of what they have achieved. This will help them to get more for their higher education.

B) It will result in inequality as the students who have good academic records are not categorized on any other basis. Their academic record in the main thing for such rewards and it is not judged on any other criteria. Both the boys and girls have equal opportunity to get rewarded who deserve it. Therefore there will be equality in the reward function.

C) The children must be given the equal educational opportunity which is not biased in any sense. The girl child must also be allowed to get an education and go to school to fulfilling her dreams. The poor children must also get compulsory education so that they can also be an educated part of society. Scholarships must be provided to the students to continue with their education. More social welfare functions must be arranged so that the students can get funds in the form of charity which will help them in their education.