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We use a simple graphical approach to represent Social Welfare Functions that satisfy Independence of Irrelevant Alternatives and Anonymity. This approach allows us to provide simple and illustrative proofs of May's Theorem, of variants of classic impossibility results, and of a recent result on...
Persistent link: https://www.econbiz.de/10013236834
We develop a dynamic model of board decision-making. We show that a board could retain a policy all directors agree is …
Persistent link: https://www.econbiz.de/10012864484
Why cooperation occurs when noncooperation appears to be individually rational has been an issue in economics for at least a half century. In the 1960's and 1970's the context was cooperation in the prisoner's dilemma game; in the 1980's concern shifted to voluntary provision of public goods; in...
Persistent link: https://www.econbiz.de/10013125580
This paper discusses what determines the preferences of individuals for redistribution. We review the theoretical literature and provide a framework to incorporate various effects previously studied separately in the literature. We then examine empirical evidence for the US, using the General...
Persistent link: https://www.econbiz.de/10012757663
Optimal policy rules--including those regarding income taxation, commodity taxation, public goods, and externalities--are typically derived in models with homogeneous preferences. This article reconsiders many central results for the case in which preferences for commodities, public goods, and...
Persistent link: https://www.econbiz.de/10012758594
In 1994 the city of Tel Aviv replaced its existing school integration program based on inter-district busing, with a new program that allowed students to choose freely between schools in and out of district. This paper explores the impact of this program on high school outcomes while...
Persistent link: https://www.econbiz.de/10013239971
based on fairness, and was a critical argument in Boston's decision to change the mechanism. We then discuss the …
Persistent link: https://www.econbiz.de/10013240652
. Biased recall of preferences over a major life decision could have important implications for measuring excess fertility, the …
Persistent link: https://www.econbiz.de/10012870068
Preferences for schools are important determinants of equitable access to high-quality education, effects of expanded choice on school improvement and school choice mechanism design. Standard methods for estimating consumer preferences are not applicable in education markets because students do...
Persistent link: https://www.econbiz.de/10012857738
We use two different approaches to measure intertemporal preferences. First we employ the classical method of inferring preferences from a series of choices (subjects choose between $X now or $Y in D days). Second we adopt the novel approach of inferring preferences using only response time data...
Persistent link: https://www.econbiz.de/10012758348