Banerjee and Pattanaik (1996) proved a theorem that the maximal set with respect to a quasi-ordering can be fully recovered by defining the greatest sets with respect to each and every ordering extension thereof and taking their union. Donaldson and Weymark (1998) proved a theorem that a...

In this paper we characterize choice behaviour that picks the median element from a set of feasible alternatives. It is easily seen that this choice behaviour violates most of the standard consistency conditions for set contraction and set expansion. The paper offers a complete characterization...

Two features of Arrow’s social choice theory are critically scrutinized. The first feature is the welfarist-consequentialism, which not only bases social judgements about right or wrong actions on the assessment of their consequences, but also assesses consequences in terms of people’s...

This paper examines how freedom of choice as reflected in an agent’s opportunity sets can be measured in economic environments where opportunity sets are linear budget sets in the non-negative orthant of the n-dimensional real space. Three axioms, Symmetry, Monotonicity and Invariance of...

We define two types of natural mechanisms, quantity and price-quantity types, in convex production economies, and characterize the class of Pareto subsolutions doubly implementable in Nash and strong Nash equilibria by these mechanisms respectively. First, we show that there is a class of Pareto...