Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (Economic Theory, 48:341-375, 2011) have recently axiomatised preferences in the presence of ambiguity as Monotonic Bernoullian Archimedean (MBA) preferences. We investigate the problem of Arrovian aggregation of MBA preferences...

The problem of how to rationally aggregate probability measures occurs in particular (i) when a group of agents, each holding probabilistic beliefs, needs to rationalise a collective decision on the basis of a single 'aggregate belief system' and (ii) when an individual whose belief system is...

Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (Economic Theory, 48:341-375, 2011) have recently proposed a very general axiomatisation of preferences in the presence of ambiguity, viz. Monotonic Bernoullian Archimedean (MBA) preference orderings. This paper investigates the...

It is well known that the literature on judgment aggregation inherits the impossibility results from the aggregation of preferences that it generalises. This is due to the fact that the typical judgment aggregation problem induces an ultrafilter on the the set of individuals, as was shown in a...

This paper studies collective decision making with regard to convex risk measures: It addresses the question whether there exist nondictatorial aggregation functions of convex risk measures satisfying Arrow-type rationality axioms (weak universality, systematicity, Pareto principle). Herein,...

This article investigates the representative-agent hypothesis for an infinite population which has to make a social choice from a given finite-dimensional space of alternatives. It is assumed that some class of admissible strictly concave utility functions is exogenously given and that each...

The relationship between propositional model theory and social decision making via premise-based procedures is explored. A one-to-one correspondence between ultrafilters on the population set and weakly universal, unanimity-respecting, systematic judgment aggregation functions is established....

This article proves a very general version of the Kirman-Sondermann [Journal of Economic Theory, 5(2):267-277, 1972] correspondence by extending the methodology of Lauwers and Van Liedekerke [Journal of Mathematical Economics, 24(3):217-237, 1995]. The paper first proposes a unified framework...

Amartya Sen (1970) has shown that three natural desiderata for social choice rules are inconsistent: universal domain, respect for unanimity, and respect for some minimal rights - which can be interpreted as either expert rights or liberal rights. Dietrich and List (2008) have generalised this...

This paper builds on a recent proposal for microeconomic foundations for "representative agents". Herzberg [Journal of Mathematical Economics, vol. 46, no. 6, 1115-1124 (2010)] constructed a representative utility function for infinite-dimensional social decision problems and since the decision...