Showing 1 - 10 of 25,391
-theoretic approach to aggregation theory inspired by Lauwers and Van Liedekerke (J Math Econ 24(3):217-237, 1995). Diverse applications …. It addresses the question whether there exist non-dictatorial aggregation functions of convex risk measures satisfying … Arrow's impossibility theorem. For infinite electorates, the possibility of rational aggregation depends on an …
Persistent link: https://www.econbiz.de/10013059110
Politicians, CEOs and various other types of dictators make social choices that influence both their own and others' welfare. When a dictator's preferred alternative differs from recipients', it is unclear which preferences they aggregate and how they determine this set of admissible...
Persistent link: https://www.econbiz.de/10014353493
-utility preferences are given. A novel proof methodology for special aggregation problems, based on model theory (in the sense of …Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (Economic Theory, 48:341-375, 2011) have recently …) preference orderings. This paper investigates the problem of Arrovian aggregation of such preferences - and proves dictatorial …
Persistent link: https://www.econbiz.de/10010187944
This paper reports on the results of a series of experimental laboratory elections. The novelty of the design allows me to study both coordination failures and coordination efficiency in a repeated-game, divided majority setting. I assess and compare the performance of three voting mechanisms,...
Persistent link: https://www.econbiz.de/10013032662
This paper extends Harsanyi's Impartial Observer Theorem by introducing Knightian Uncertainty in the form of individual belief systems. It features an axiomatic framework of societal decision-making in the presence of individual uncertainty. The model allows the analysis of scenarios where...
Persistent link: https://www.econbiz.de/10012948325
A policymaker selects a group of citizens—a minipublic—to advise her on the desirability of a policy. Each citizen can discover local evidence about the policy but might prefer not to due to political uncertainty in the policymaker’s adoption threshold. Such uncertainty is detrimental to...
Persistent link: https://www.econbiz.de/10013244821
This paper investigates the role that idiosyncratic uncertainty plays in shaping social preferences over the degree of labor market flexibility, in a general equilibrium model of dynamic labor demand where the productivity of firms evolves over time as a Geometric Brownian motion. A key result...
Persistent link: https://www.econbiz.de/10013325149
We study a large economy model in which individuals have private information about their productive abilities and their preferences. Moreover, there is aggregate uncertainty so that the social benefits from taxation and public goods provision are a priori unknown. The analysis is based on a...
Persistent link: https://www.econbiz.de/10013158141
This paper investigates the role that idiosyncratic uncertainty plays in shaping social preferences over the degree of labor market flexibility, in a general equilibrium model of dynamic labor demand where the productivity of firms evolves over time as a Geometric Brownian motion. A key result...
Persistent link: https://www.econbiz.de/10003719624
situations with positive probability of human extinction, and is linked to decision theory by yielding rank-dependent expected …
Persistent link: https://www.econbiz.de/10010530542