The paper presents Kenneth Arrow's interpretation of the competitive general equilibrium model, arguing he used it to articulate an ambitious critique of what he called the 'neoclassical theory.' Without arguing that Arrow's account of neoclassical theory was correct, I explore how Arrow was...

This paper examines the mechanisms by which a World Champion is chosen in the For-mula One Championship. Furthermore it is analysed whether there is a best method to do this. For this purpose we will discuss the methods used by the Fédération Internationale de l'Automobile (FIA) since the...

In [MP08] L. Marengo and C. Pasquali present a model of object construction in majority voting and show that, in general, by appropriate changes of such bundles, different social outcomes may be obtained. In this paper we extend and generalize this approach by providing a geometric model of...

We present a geometric model of social choice when the latter takes place among bundles of interdependent elements, that we will call objects. We show that the outcome of the social choice process is highly dependent on the way these bundles are formed. By bundling and unbundling the same set of...

In this paper we develop on a geometric model of social choice among bundles of interdependent elements (objects). Social choice can be seen as a process of search for optima in a complex multi-dimensional space and objects determine a decomposition of such a space into subspaces. We present a...

Social choice models usually assume that choice is among exogenously given and non decomposable alternatives. Often, on the contrary, choice is among objects that are constructed by individuals or institutions as complex bundles made of many interdependent components. In this paper we present a...

We present a geometric model of social choice when the latter takes place among bundles of interdependent elements, that we will call objects. We show that the outcome of the social choice process is highly dependent on the way these bundles are formed. By bundling and unbundling the same set of...

Recent theoretical work in the economics of climate change has suggested that climate policy is highly sensitive to fat-tailed' risks of catastrophic outcomes (Weitzman, 2009b). Such risks are suggested to be an inevitable consequence of scientific uncertainty about the effects of increased...

Following Barberà, Sonnenschein, and Zhou (1991, Econometrica 59, 595-609), we study rules (or social choice functions) through which agents select a subset from a set of objects. We investigate domains on which there exist nontrivial strategy-proof rules. We establish that the set of separable...

In a recent book and earlier studies, Donald Saari well clarifies the source of three classical impossibility theorems in social choice and proposes possible escape out of these negative results. The objective of this note is to illustrate the relevance of these explanations in justifying the...