Showing 1 - 10 of 125
We investigate the nature of social preferences when a decision maker's information is limited to group members' ordinal rankings. By studying choices made on behalf of others, we identify social choice rules that embody the normative values decision makers implicitly favor. Few people are...
Persistent link: https://www.econbiz.de/10014468187
In a recent book and earlier studies, Donald Saari well clarifies the source of three classical impossibility theorems in social choice and proposes possible escape out of these negative results. The objective of this note is to illustrate the relevance of these explanations in justifying the...
Persistent link: https://www.econbiz.de/10010335990
We investigate how individuals think groups should aggregate members' ordinal preferences - that is, how they interpret "the will of the people." In an experiment, we elicit revealed attitudes toward ordinal preference aggregation and classify subjects according to the rules they apparently...
Persistent link: https://www.econbiz.de/10012631631
I consider an extension of the Borda count to the case when individuals can have weak preferences, and I show that it satisfies several normatively appealing axioms. The first axiom is an extension to the case of weak preferences of the Modified Independence of Irrelevant Alternatives axiom...
Persistent link: https://www.econbiz.de/10012670884
In this short paper we provide two versions of Arrow’s impossibility theorem, in a world with only one preference profile. Both versions are extremely simple and allow a transparent understanding of Arrow’s theorem. The first version assumes a two-agent society; the second version, which is...
Persistent link: https://www.econbiz.de/10010318869
In this paper we provide a simple new version of Arrow’s impossibility theorem, in a world with only one preference profile. This theorem relies on a new assumption of preference diversity, and we explore alternative notions of preference diversity at length.
Persistent link: https://www.econbiz.de/10010318976
The characteristics of endogenously determined sharing rules and the group-size paradox are studied in a model of group contest with the following features: (i) The prize has mixed privatepublic good characteristics. (ii) Groups can differ in marginal cost of effort and their membership size....
Persistent link: https://www.econbiz.de/10010335975
A competitive rent-seeking club (CRSC) offers its members the chance of winning a prize (status, position, privilege) by being selected, typically, by a civil servant or a politician. The selector replaces in our setting the usual contest success function; instead of determining the winner on...
Persistent link: https://www.econbiz.de/10010335991
Government intervention often gives rise to contests and the government can influence their outcome by choosing their type. We consider a contest with two interest groups: one that is governed by a central planner and one that is not. Rent dissipation is compared under two well-known contest...
Persistent link: https://www.econbiz.de/10010335998
The form of contests for a single fixed prize can be determined by a designer who maximizes the contestants' efforts. This paper establishes that, under common knowledge of the two asymmetric contestants' prize valuations, a fair Tullock-type endogenously determined lottery is always superior to...
Persistent link: https://www.econbiz.de/10010336054