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Persistent link: https://www.econbiz.de/10005596379
We show that it is possible to reconcile the utilitarian and welfarist principles under the requirement of unanimity provided that the set of profiles over which the consensus is attained is rich enough. More precisely, we identify a closedness condition which, if satisfied by a class of...
Persistent link: https://www.econbiz.de/10010634380
In this paper, we theoretically characterize robust empirically implementable normative criteria for evaluating socially risky situations. Socially risky situations are modeled as distributions, among individuals, of lotteries on a finite set of state-contingent pecuniary consequences....
Persistent link: https://www.econbiz.de/10011151953
The object of this paper is to propose a consistency test for an individual involved in collective choice process. Collective choice processes considered in the paper are those that transform individuals `tastes' - which reflect the self-interested view point of the individuals - into (social)...
Persistent link: https://www.econbiz.de/10005596396
This paper examines a possibility of enlarging the domain of definition of individual preferences suggested by the recent literature on freedom of choice. More specifically, the possibility for an individual to have preferences that depend upon both the opportunity set that she faces and the...
Persistent link: https://www.econbiz.de/10005752944
Persistent link: https://www.econbiz.de/10005147176
This paper examines the segregative properties of Tiebout-type process of jurisdiction formation by freely mobile households in the presence of a central government which makes equalization transfers across jurisdictions so as to maximize a generalized utilitarian or a max–min objective. It is...
Persistent link: https://www.econbiz.de/10010680681
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