theory and welfare economics. The first volume consists of four parts. In Part 1 (Arrovian Impossibility Theorems), various … results of this kind. In Part 2 (Voting Schemes and Mechanisms), the operation and performance of voting schemes and cost …-sharing mechanisms are examined axiomatically, and some aspects of the modern theory of incentives and mechanism design are expounded and …

Which decision rule should we use to make a binary collective choice? While voting procedures are applied ubiquitously … qualified majority voting. Our result shows that using a VCG mechanism is not superior to voting in general and justifies the … use of voting mechanisms. It thereby could explain why many decision rules employed in practice do not rely on monetary …

than in theory. …

policy process? And what have we learned about the theory and practice of public finance from three decades of empirical … we learned about the theory and practice of public finance from three decades of empirical research on public choice …