Showing 1 - 10 of 33
Academic research is a public good whose production is supported by the tuition-paying students that a faculty's research accomplishments attract. A professor's spot contribution to the university's revenues thus depends not on her spot research production, but rather on her cumulative research...
Persistent link: https://www.econbiz.de/10015216610
Some social choice models assume that precise interpersonal comparisons of utility (either ordinal or cardinal) are possible, allowing a rich theory of distributive justice. Other models assume that absolutely no interpersonal comparisons are possible, or even meaningful; hence all...
Persistent link: https://www.econbiz.de/10015218019
Some social choice models assume that precise interpersonal comparisons of utility (either ordinal or cardinal) are possible, allowing a rich theory of distributive justice. Other models assume that absolutely no interpersonal comparisons are possible, or even meaningful; hence all...
Persistent link: https://www.econbiz.de/10015218136
`Judgement aggregation' is a model of social choice where the space of social alternatives is the set of consistent truth-valuations (`judgements') on a family of logically interconnected propositions. It is well-known that propositionwise majority voting can yield logically inconsistent...
Persistent link: https://www.econbiz.de/10015221511
We develop a model of social choice over lotteries, where people's psychological characteristics are mutable, their preferences may be incomplete, and approximate interpersonal comparisons of well-being are possible. Formally, we suppose individual preferences are described by a...
Persistent link: https://www.econbiz.de/10015223254
We propose a mathematical model of `approximate' interpersonal comparisons of well-being, in terms of an incomplete preorder over a space of `psychophysical states'. We argue that this model is consistent with people's intuitions about interpersonal comparisons, intertemporal preferences, and...
Persistent link: https://www.econbiz.de/10015223255
We develop a model of preference aggregation where people's psychological characteristics are mutable (hence, potential objects of individual or social choice), their preferences may be incomplete, and approximate interpersonal comparisons of well-being are possible. Formally, we consider...
Persistent link: https://www.econbiz.de/10015223280
Given a bargaining problem, the `relative utilitarian' (RU) solution maximizes the sum total of the bargainer's utilities, after having first renormalized each utility function to range from zero to one. We show that RU is `optimal' in two very different senses. First, RU is the maximal element...
Persistent link: https://www.econbiz.de/10015224061
`Judgement aggregation' is a model of social choice where the space of social alternatives is the set of consistent truth-valuations (`judgements') on a family of logically interconnected propositions. It is well-known that propositionwise majority voting can yield logically inconsistent...
Persistent link: https://www.econbiz.de/10015224264
Let X be a set of states, and let I be an infinite indexing set. Our first main result states that any separable, permutation-invariant preference order () on X^I admits an additive representation. That is: there exists a linearly ordered abelian group A and a `utility function' u:X--A such...
Persistent link: https://www.econbiz.de/10015225303