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An axiomatic characterization of the well known Leontief preferences is given. The key axiom is upper consistency, which states that for any two bundles, another bundle is weakly preferred to at least one of them if and only if it is weakly preferred to the bundle that contains the least amount...
Persistent link: https://www.econbiz.de/10010601736
We prove the following result which is equivalent to the Gibbard–Satterthwaite Theorem: when there are at least 3 alternatives, for any unanimous and strategy-proof social choice function, at any given profile if an individual’s top ranked alternative differs from the social choice, then she...
Persistent link: https://www.econbiz.de/10010594069
In this short paper, we analyze the implications of dropping the axiom of faithfulness in the axiomatization of approval voting, due to P. C. Fishburn. We show that a ballot aggregation function satisfies the remaining axioms (neutrality, consistency and cancellation) if and only if it is either...
Persistent link: https://www.econbiz.de/10010827819
In this short note, we first provide two rather straightforward proofs for the Muller - Satterthwaite theorem in the baseline cases of 2 person 3 alternatives, and 2 person n ≥ 3 alternatives. We also show that it suffices to prove the result in the special case of 3 alternatives (with...
Persistent link: https://www.econbiz.de/10011278577
Persistent link: https://www.econbiz.de/10010000175