Pattanaik and Peleg showed that the power structure under a probabilistic voting procedure which satisfies regularity, ex-post Pareto optimally and independance of irrelevant alternatives is almost completely characterized by random dictatorship. Their characterization is not complete because it...

This paper considers the distribution of coalitional influence under probabilistic social choice correspondences, which are randomized social choice rules that map each combination of a preference profile and a feasible subset of the universal set to a social choice lottery over the subsets of...

We obtain an inequality for th esmaple varaince of a Brownian motion on [0,1] and an associated Ornstein-Uhlenbeck process. The result is applied to a regression involving a near-integrated regressor, and establishes that in the limit the dispersion of the least squares estimator is greater in...

This paper considers the distribution of coalitional influence under probabilistic social choice functions which are randomized social choice rules that allow social indifference by mapping each combination of a preference profile and a feasible set to a social choice lottery over all possible...

We show that Barberá and Sonnenschein’s (1978) power function becomes additive if we replace the Paretian condition by nonimposition and monotonicity. Since these conditions are very much in the spirit of Arrow (1951), our result sharpens the analogy to Arrow’s theorem. Copyright...

We derive the conditions that sign the effects of changing population composition on wage levels and ratios, when labor supply and discrimination preferences vary. The overall effect depends on an aggregate market, a relative market, and a preference distribution effect.

This paper replacesGibbard’s (Econometrica 45:665-681, <CitationRef CitationID="CR10">1977</CitationRef>) assumption of strict ordinal preferences by themore natural assumption of cardinal preferences on the set pure social alternatives and we also admit indifferences among the alternatives. By following a similar line of reasoning to...</citationref>

This paper analyses the effects of relaxing one of the critical underlying assumptions of the textbook approach to investment under uncertainty for partial equilibrium models. Most textbook models assume that either the potential investor has access to a single project or she can consider...