Banerjee and Pattanaik (1996) proved a theorem that the maximal set with respect to a quasi-ordering can be fully recovered by defining the greatest sets with respect to each and every ordering extension thereof and taking their union. Donaldson and Weymark (1998) proved a theorem that a...

Two features of Arrow’s social choice theory are critically scrutinized. The first feature is the welfarist-consequentialism, which not only bases social judgements about right or wrong actions on the assessment of their consequences, but also assesses consequences in terms of people’s...

We consider social preferences over infinite horizon intergenerational consumption paths. We use the Mackey topology to define continuity of social preferences. Our main objective is to generalize one of Diamond's impossibility theorems. First, we show that the trivial preference relation is the...

In this paper we characterize choice behaviour that picks the median element from a set of feasible alternatives. It is easily seen that this choice behaviour violates most of the standard consistency conditions for set contraction and set expansion. The paper offers a complete characterization...

This paper examines how freedom of choice as reflected in an agent’s opportunity sets can be measured in economic environments where opportunity sets are linear budget sets in the non-negative orthant of the n-dimensional real space. Three axioms, Symmetry, Monotonicity and Invariance of...