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Amartya Sen (1970) has shown that three natural desiderata for social choice rules are inconsistent: universal domain, respect for unanimity, and respect for some minimal rights - which can be interpreted as either expert rights or liberal rights. Dietrich and List (2008) have generalised this...
Persistent link: https://www.econbiz.de/10010366140
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/10010379281
It is well known that the literature on judgement aggregation inherits the impossibility results from the aggregation of preferences that it generalises. This is due to the fact that the typical judgement aggregation problem induces an ultrafilter on the set of individuals. We propose a...
Persistent link: https://www.econbiz.de/10010577850
The trade-off between equity and efficiency is analyzed in a geometric framework for the problem of committee selection, which has recently attracted interest in the social choice literature. It is shown that this trade-off can be maximal in the precise sense of the antipodality of the outcomes...
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An impossibility result for completely abstract social aggregation rules is presented. It is shown that non-imposition and a new no-veto property (two properties in the spirit of the Pareto principle and non-dictatorship respectively) are incompatible with an inter-profile consistency condition...
Persistent link: https://www.econbiz.de/10005678326
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...
Persistent link: https://www.econbiz.de/10011154918
Abstract This article investigates the representative-agent hypothesis for a population which faces a collective choice from a given finite-dimensional space of alternatives. Each individual's preference ordering is assumed to admit a utility representation through an element of an exogenously...
Persistent link: https://www.econbiz.de/10008870863