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Arrow's celebrated theorem shows that the aggregation of individuals' preferences into a social ordering cannot make the ranking of any pair of alternatives depend only on individuals' preferences over that pair, unless the fundamental Pareto and non-dictatorship principles are violated. In a...
Persistent link: https://www.econbiz.de/10004992479
Arrow's celebrated theorem of social choice shows that the aggregation of individual preferences into a social ordering cannot make the ranking of any pair of alternatives depend only on individual preferences over that pair, unless the fundamental weak Pareto and nondictatorship principles are...
Persistent link: https://www.econbiz.de/10004992516
The theory of fair allocation is often favourably contrasted with the social choice theory in the search for escape routes from Arrow's impossibility theorem. Its success is commonly attributed to the fact that it is modest in its goal vis-`a-vis social choice theory, since it does not aspire...
Persistent link: https://www.econbiz.de/10004992521
We propose the concept of a universal social ordering, defined on the set of pairs of an allocation and a preference profile of any finite population. It is meant to unify evaluations and comparisons of social states with populations of possibly different sizes with various characteristics. The...
Persistent link: https://www.econbiz.de/10004992569
We study the possibility of making social evaluations of allocations independently of individuals' preferences over unavailable commodities. This is related to the well-known problem of performing international comparisons of standard of living across countries with different consumption goods....
Persistent link: https://www.econbiz.de/10004992581