We approach the problem of preference aggregation by endowing both individuals and coalitions with partially-ordered or incomplete preferences for decision under risk. Restricting attention to the case of complete individual preferences, and assuming complete preferences for some pairs of agents...

We define and examine three minimal market games (sell-all, buy-sell, and double auction) in the laboratory relative to the predictions of theory. These closed exchange economies have some cash to facilitate transactions, and include feedback. The experiment reveals that (1) the competitive...