aggregation bias due to the diversity of beliefs. In this setting, the construction of a representative agent is shown to be also …

This paper is a generalization of [Calvet, L., Grandmont, J.-M., Lemaire, I., 2002. Aggregation of heterogenous beliefs …., Grandmont, J.-M., Lemaire, I., 2002. Aggregation of heterogenous beliefs and asset pricing in complete financial markets … the aggregation bias due to the diversity of beliefs. In this setting, the construction of a representative agent is shown …

under aggregation. …

We provide a general theorem on the aggregation of preferences under uncertainty. We study, in the Anscombe …-dependent versions of these models). We prove that aggregation is possible and necessarily linear if (society's) preferences are "smooth … possibility of aggregation of non-smooth preferences. …

The paper addresses the problem of extending aggregation operators typically defined on $[0,1]$ to the symmetric … interval $[-1,1]$, where the ``0'' value plays a particular role (neutral value). We distinguish the cases where aggregation … using an interpolation approach, supposing the value of the aggregation to be known for ternary vectors. …

that aggregation is possible and necessarily linear if and only if (society's) preferences are uncertainty neutral. The … number of ways to restore the possibility of aggregation are then discussed. …

for the consensus problems, in particular in the case of the aggregation of linear orders. First we consider the medians …