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A welfarist way of allocating resources consists in 1) equipping individuals with comparable indices of their well-being and 2) applying a unique aggregation rule to individual well-being levels. An equality of opportunity way of allocating resources consists in 1) making the distinction between...
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<Para ID="Par1">Approval voting has attracted considerable attention in voting theory, but it has rarely been investigated in an Arrovian framework of collective preference (”social welfare”) functions and never been connected with Arrow’s impossibility theorem. The article explores these two directions....</para>
Persistent link: https://www.econbiz.de/10011241363
We develop an approach which escapes Arrow’s impossibility by relying on information about agents’ indifference curves instead of utilities. In a model where agents have unequal production skills and different preferences, we characterize social ordering functions which rely only on ordinal...
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We reconsider the problem of aggregating individual preference orderings into a single social ordering when alternatives are lotteries and individual preferences are of the von Neumann–Morgenstern type. Relative egalitarianism ranks alternatives by applying the leximin ordering to the...
Persistent link: https://www.econbiz.de/10010848186
We reconsider the problem of provision and cost-sharing of multiple public goods. The efficient equal factor equivalent allocation rule makes every agent indifferent between what he receives and the opportunity of choosing the bundle of public goods subject to the constraint of paying r times...
Persistent link: https://www.econbiz.de/10005147217
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