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Arrovian Aggregation in Economic Environments: How Much Should We Know About Indifference Surfaces?
Fleurbaey, Marc; Suzumura, Kotaro; Tadenuma, Koichi - Graduate School of Economics, Hitotsubashi University - 2002
Arrow's celebrated theorem of social choice shows that the aggregation of individual preferences into a social ordering … investigate how much information about indifference hypersurfaces is needed to construct social ordering functions satisfying the … weak Pareto principle and anonymity. We show that local information such as marginal rates of substitution or the shapes …
Persistent link: https://www.econbiz.de/10004992516
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Arrovian Aggregation in Economic Environments: How Much Should We Know About Indifference Surfaces?
Fleurbaey, Marc; Suzumura, Kotaro; Tadenuma, Koichi - Center for Intergenerational Studies, Institute of … - 2002
Arrow's celebrated theorem of social choice shows that the aggregation of individual preferences into a social ordering … investigate how much information about indifference hypersurfaces is needed to construct social ordering functions satisfying the … weak Pareto principle and anonymity. We show that local information such as marginal rates of substitution or the shapes …
Persistent link: https://www.econbiz.de/10005018650
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Quasi-likelihood or extended quasi-likelihood? An information-geometric approach
Vos, Paul - In: Annals of the Institute of Statistical Mathematics 47 (1995) 1, pp. 49-64
Persistent link: https://www.econbiz.de/10005760238
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Does market coordination lead to justice or to strict efficiency in Social Choice and Individual Values?
Berthonnet, Irène; Desreumaux, Vincent - In: Cahiers d’économie politique / Papers in Political … (2014) 66, pp. 95-126
The paper tries to clarify the status of the market in Social Choice and Individual Values. It shows how Arrow at first intended to propose a third theorem of welfare economics (Feldman [1991]), which would show that the market achieves not only Pareto-optimality, but also equitable social...
Persistent link: https://www.econbiz.de/10010787025
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The performance of four possible rules for selecting the Prime Minister after the Dutch Parliamentary elections of September 2012
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2013
Economic policy depends not only on national elections but also on coalition bargaining strategies. In coalition government, minority parties bargain on policy and form a majority coalition, and select a Prime Minister from their mids. In Holland the latter is done conventionally with Plurality,...
Persistent link: https://www.econbiz.de/10011112692
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The performance of four possible rules for selecting the Prime Minister after the Dutch Parliamentary elections of June 2010
Colignatus, Thomas - Volkswirtschaftliche Fakultät, … - 2010
Economic policy depends not only on national elections but also on coalition bargaining strategies. In coalition government, minority parties bargain on policy and form a majority coalition, and select a Prime Minister from their mids. In Holland the latter is done conventionally with Plurality,...
Persistent link: https://www.econbiz.de/10008530713
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Information aggregation, speculation, and arbitrage in a simple option market experiment
Rockenbach, Bettina - In: Revue d'économie politique 111 (2001) 1, pp. 41-65
The fact that all arbitrage opportunities are exploited is a fundamental assumption of option pricing theory. Empirical and experimental studies of investment decisions, however, found that arbitrage is not completely exploited by individuals. Instead, observed behavior is much better explained...
Persistent link: https://www.econbiz.de/10011187167
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Investment and abandonment decisions in the presence of imperfect aggregation of information
Dapena, José Pablo - Universidad del CEMA - 2007
of participants holding each one a right to invest can give rise under imperfect information to situations of deviations … agents take into account when deciding not only their private set of information but also the information released to the … of dispersion of information in the economy and the effect of the number of participants and their effect into their …
Persistent link: https://www.econbiz.de/10005668684
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Preference of Social Choice in Mathematical Economics
Islam, Jamal; Mohajan, Haradhan; Moolio, Pahlaj - Volkswirtschaftliche Fakultät, … - 2008
Mathematical Economics is closely related with Social Choice Theory. In this paper, an attempt has been made to show this relation by introducing utility functions, preference relations and Arrow’s impossibility theorem with easier mathematical calculations. The paper begins with some...
Persistent link: https://www.econbiz.de/10011260951
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Preference of Social Choice in Mathematical Economics
Islam, Jamal Nazrul; Mohajan, Haradhan Kumar; Moolio, Pahlaj - In: Indus Journal of Management & Social Science (IJMSS) 3 (2009) 1, pp. 18-38
Mathematical Economics is closely related with Social Choice Theory. In this paper, an attempt has been made to show this relation by introducing utility functions, preference relations and Arrow’s impossibility theorem with easier mathematical calculations. The paper begins with some...
Persistent link: https://www.econbiz.de/10008492702