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This paper reviews recent research on the aggregation of heterogeneous time preferences. Main results are illustrated in simple Ramsey models with two or three agents who differ in their discount factors. We employ an intertemporal view on these models and argue that preferences of a decision...
Persistent link: https://www.econbiz.de/10012546897
consensus. Furthermore, if the level of consensus is sufficiently strong, the Condorcet winner is chosen by all the scoring … rules. Level r consensus therefore ensures the Condorcet consistency of all scoring rules, thus eliminating the tension …
Persistent link: https://www.econbiz.de/10010356368
Condorcet domains are sets of linear orders with the property that, whenever the preferences of all voters of a society … whose preferences belong to this domain. We show that every closed Condorcet domain can be endowed with the structure of a … median graph and that, conversely, every median graph is associated with a closed Condorcet domain (in general, not uniquely …
Persistent link: https://www.econbiz.de/10011490914
It is proved that, among all restricted preference domains that guarantee consistency (i.e. transitivity) of pairwise majority voting, the single-peaked domain is the only minimally rich and connected domain that contains two completely reversed strict preference orders. It is argued that this...
Persistent link: https://www.econbiz.de/10011558266
In this paper, we first replicated Harrison et al. (2012). Then, we studied if the group's size has an impact on group's risk aversion. In line with Harrison et al. (2012), our results confirm that no significant differences occur between individuals and groups risk aversion in three-person...
Persistent link: https://www.econbiz.de/10011556606
two-urn Ellsberg experiment: one urn offers a 45% chance of winning a fixed monetary prize, the other an ambiguous chance …
Persistent link: https://www.econbiz.de/10010403247
“the will of the people.” In an experiment, we elicit revealed attitudes toward ordinal preference aggregation and classify …
Persistent link: https://www.econbiz.de/10012625737
such as plurality, Borda, or antiplurality rule. Many different weights induce the same mapping from committee members … plurality committees, Borda commitees, etc. differ widely. There are 6, 51, and 5 plurality, Borda, and antiplurality committees … plurality and Borda (Borda and antiplurality). A key implication is that plurality, Borda, and antiplurality rule are much less …
Persistent link: https://www.econbiz.de/10012698221
In this paper the concepts of manipulation as strategic voting (misrepresentation of true preferences) and strategic nomination (by adding, or removing alternatives) are investigated. The connection between Arrow’s and Gibbard-Satterthwaite theorems is discussed from the viewpoint of dilemma...
Persistent link: https://www.econbiz.de/10010529891
welfare losses relative to other, more common, voting rules such as the plurality rule, approval voting, and the Borda Count …
Persistent link: https://www.econbiz.de/10014167066