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Microeconomic foundations of representative agent models by means of ultraproducts

Bedrosian, Geghard; Herzberg, Frederik - 2014

This paper builds on a recent proposal for microeconomic foundations for "representative agents". Herzberg [Journal of Mathematical Economics, vol. 46, no. 6, 1115-1124 (2010)] constructed a representative utility function for infinite-dimensional social decision problems and since the decision...

Persistent link: https://www.econbiz.de/10010427188

Microeconomic foundations of representative agent models by means of ultraproducts

Bedrosian, Geghard; Herzberg, Frederik - 2014 - Preliminary and incompletet

Persistent link: https://www.econbiz.de/10010379281

A representative individual from arrovian aggregation of parametric individual utilities

Herzberg, Frederik - 2009

ultraproduct of the reals with respect to the ultrafilter of decisive coalitions; this construction explicitly determines the …

Persistent link: https://www.econbiz.de/10010272588

A representative individual from Arrovian aggregation of parametric individual utilities

Herzberg, Frederik - Institut für Mathematische Wirtschaftsforschung, … - 2009

ultraproduct of the reals with respect to the ultrafilter of decisive coalitions; this construction explicitly determines the …

Persistent link: https://www.econbiz.de/10005002284

G. Th. Guilbaud et la théorie du choix social.

Monjardet, Bernard - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2011

One year after the publication of Arrow's 1951 book Social Choice and Individual Values, Guilbaud (1912-2006) published in Économie Appliquée a 50 page's paper entitled Les théories de l'intérêt général et le problème logique de l'agrégation. In this paper -unfortunately too little...

Persistent link: https://www.econbiz.de/10009209864

Aggregating infinitely many probability measures

Herzberg, Frederik - 2014

The problem of how to rationally aggregate probability measures occurs in particular (i) when a group of agents, each holding probabilistic beliefs, needs to rationalise a collective decision on the basis of a single 'aggregate belief system' and (ii) when an individual whose belief system is...

Persistent link: https://www.econbiz.de/10010234048

Aggregation of Monotonic Bernoullian Archimedean preferences : Arrovian impossibility results

Herzberg, Frederik - 2013

Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (Economic Theory, 48:341-375, 2011) have recently proposed a very general axiomatisation of preferences in the presence of ambiguity, viz. Monotonic Bernoullian Archimedean (MBA) preference orderings. This paper investigates the...

Persistent link: https://www.econbiz.de/10010187944

Arrovian aggregation of MBA preferences : an impossibility result ; conference paper

Herzberg, Frederik - 2013

Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (Economic Theory, 48:341-375, 2011) have recently axiomatised preferences in the presence of ambiguity as Monotonic Bernoullian Archimedean (MBA) preferences. We investigate the problem of Arrovian aggregation of MBA preferences...

Persistent link: https://www.econbiz.de/10010338890

Sustainable preferences via nondiscounted, hyperreal intergenerational welfare functions

Pivato, Marcus - Volkswirtschaftliche Fakultät, … - 2008

We define an intergenerational social welfare function Sigma from |R^|N (the set of all infinite-horizon utility streams) into *|R (the ordered field of hyperreal numbers). The function Sigma is continuous, linear, and increasing, and is well-defined even on unbounded (e.g. exponentially...

Persistent link: https://www.econbiz.de/10005787007

Impossibility results for infinite-electorate abstract aggregation rules

Herzberg, Frederik; Eckert, Daniel - 2009

preferences that it generalises. This is due to the fact that the typical judgment aggregation problem induces an ultrafilter on …, dictatorship then immediately follows from the principality of an ultrafilter on a finite set. This is not the case for an infinite … impossibility results for free ultrafilters: The domain of an ultraproduct over a free ultrafilter extends the individual factor …

Persistent link: https://www.econbiz.de/10010272584