In this article we analyze the ethical aspects of multistakeholder recommendation systems (RSs). Following the most common approach in the literature, we assume a consequentialist framework to introduce the main concepts of multistakeholder recommendation. We then consider three research questions: Who are the stakeholders in a RS? How are their interests taken into account when formulating a recommendation? And, what is the scientific paradigm underlying RSs? Our main finding is that multistakeholder RSs (MRSs) are designed and theorized, methodologically, according to neoclassical welfare economics. We consider and reply to some methodological objections to MRSs on this basis, concluding that the multistakeholder approach offers the resources to understand the normative social dimension of RSs.