Showing 101 - 110 of 1,097
Ever since Sen’s (1993, 1997) criticism on the notion of internal consistency or menu independence of choice, there exists a widespread perception that the standard revealed preference approach to the theory of rational choice has difficulties in coping with the existence of external norms, or...
Persistent link: https://www.econbiz.de/10008617078
Ferejohn and Page transplanted a stationarity axiom from Koopmans’ theory of impatience into Arrow’s social choice theory with an infinite horizon and showed that the Arrow axioms and stationarity lead to a dictatorship by the first generation. We prove that the negative implications of...
Persistent link: https://www.econbiz.de/10008617086
Ever since Sen criticized the notion of internal consistency of choice, there exists a widespread perception that the standard rationalizability approach to the theory of choice has difficulties in coping with the existence of external norms. We introduce a concept of <italic>norm-conditional...</italic>
Persistent link: https://www.econbiz.de/10008782868
The rationalizability of a choice function on an arbitrary domain under various coherence properties has received a considerable amount of attention both in the long-established and in the recent literature. Because domain closedness conditions play an important role in much of rational choice...
Persistent link: https://www.econbiz.de/10008671542
The rationalizability of a choice function on arbitrary domains by means of a transitive relation has been analyzed thoroughly in the literature. Moreover, characterizations of various versions of consistent rationalizability have appeared in recent contributions. However, not much seems to be...
Persistent link: https://www.econbiz.de/10008671558
We examine properties of binary relations that complement quasi-transitivity and Suzumura consistency in the sense that they, together with the original axiom(s), are equivalent to transitivity. In general, the conjunction of quasi-transitivity and Suzumura consistency is strictly weaker than...
Persistent link: https://www.econbiz.de/10008679127
In a seminal contribution, Hansson has demonstrated that the family of decisive coalitions associated with an Arrovian social welfare function forms an ultrafilter. If the population under consideration is infinite, his result implies the existence of nondictatorial social welfare functions. He...
Persistent link: https://www.econbiz.de/10008679130
Ever since Sen’s (1993; 1997) criticism on the notion of internal consistency or menu independence of choice, there exists a widespread perception that the standard revealed preference approach to the theory of rational choice has difficulties in coping with the existence of external norms, or the...
Persistent link: https://www.econbiz.de/10008679133
In Consistency, Choice, and Rationality, economic theorists Walter Bossert and Kotaro Suzumura present a thorough mathematical treatment of Suzumura consistency, an alternative to established coherence properties such as transitivity, quasi-transitivity, or acyclicity. Applications in individual...
Persistent link: https://www.econbiz.de/10010633518
We provide a brief survey of some literature on intertemporal social choice theory in a multi-profile setting. As is well-known, Arrow’s impossibility result hinges on the assumption that the population is finite. For infinite populations, there exist non-dictatorial social welfare functions...
Persistent link: https://www.econbiz.de/10010634154