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A ranking over opportunity sets is justifiable if there exists a binary relation on the set of alternatives, such that one opportunity set is at least as good as the second, if and only if there exists at least one alternative in the first set which is at least as good as any alternative of the...
Persistent link: https://www.econbiz.de/10010891618
Information function method is a powerful tool for analyzing the information requirements of social welfare functions. However, the original information function provides only a coarse description of information structure. In this article, we propose a refinement of this method by changing the...
Persistent link: https://www.econbiz.de/10010942513
To examine the consequences of allowing individual to violate full rationality in collective decision making, this article discusses the possibility of aggregating quasi-transitive preferences in the Arrovian framework. Quasi-transitive valued aggregating functions are discussed and...
Persistent link: https://www.econbiz.de/10010835771
Persistent link: https://www.econbiz.de/10005401333
This paper examines the rise of the VAR (Vector AutoRegressive) approach from a historical perspective. It shows that the VAR approach arises from a fusion of the Cowles Commission tradition and time series statistical methods, catalysed by the rational expectations (RE) movement, that the...
Persistent link: https://www.econbiz.de/10012725583