Güth, Werner; Kliemt, Hartmut - Max-Planck-Institut für Ökonomik <Jena> / Abteilung … - 2011
Unanimous voting as the fundamental procedural source of political legitimacy grants vetopower to each individual. We present an axiomatic characterization of a class of biddingprocesses to spell out the underlying egalitarian values for collective projects of a“productive state”. At heart...