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Any procedure of social choice makes use of some types of information and ignores others. For example, the method of majority decision concentrates on people's votes, but pays no direct attention to, say, their social standings, or their prosperity or penury, or even the intensities of their...
Persistent link: https://www.econbiz.de/10009318738
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This chapter reviews the SWFL approach to social choice. It does not attempt to be a complete and systematic survey of existing results, but to give a critical assesment of the main axioms and their role in filtering the ethically relevant information, in particular the measurability and...
Persistent link: https://www.econbiz.de/10005457184
Given a set of outcomes that affect the welfare of the members of a group, K.J. Arrow imposed the following five conditions on the ordering of the outcomes as a function of the preferences of the individual group members, and then proved that the conditions are logically inconsistent:- The...
Persistent link: https://www.econbiz.de/10005457185
Within the framework of the axiomatic approach three types of voting schemes are investigated according to the form in which the individual opinions about the alternatives are defined, as well as to the form of desired social decision. These types of rules are Social Decision Rules, Functional...
Persistent link: https://www.econbiz.de/10005349656
This chapter discusses different types of domain restrictions. We begin by analyzing various qualitative conditions on preference profiles. Value-restricted preferences (with single-peaked preferences as one of its subcases), limited agreement as well as antagonistic and dichotomous preferences...
Persistent link: https://www.econbiz.de/10005349657
The equitable division of a joint cost (or a jointly produced output) among agents with different shares or types of output (or input) commodities, is a central theme of the theory of cooperative games with transferable utility. Ever since Shapley's seminal contribution in 1953, this question...
Persistent link: https://www.econbiz.de/10005349658
In this chapter, we seek to review some of the central concepts and results in the literature on positionalist voting rules, which goes back to Borda (1781). After the introduction of the basic notation and definitions in earlier parts of the chapter, we explore in Section 3 the distinction...
Persistent link: https://www.econbiz.de/10005206843
The implementation problem is the problem of designing a mechanism (game form) such that the equilibrium outcomes satisfy a criterion of social optimality embodied in a social choice rule. If a mechanism has the property that, in each possible state of the world, the set of equilibrium outcomes...
Persistent link: https://www.econbiz.de/10005206844