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The aim of this paper is to provide a different, somewhat more general, approach to the axiomatic ranking of opportunity sets in term of freedom of choice. The opportunity ransking is defined axiomatically relative to some standard of freedom or theory of freedom. The paper provides a general...
Persistent link: https://www.econbiz.de/10005779698
We consider the standard mechanism design environment with linear utility but without monetary transfers. We first establish an equivalence between deterministic, dominant strategy incentive compatible mechanisms and generalized median voter schemes. We then use this equivalence to construct the...
Persistent link: https://www.econbiz.de/10010850121
What is a good incentive-compatible policy when one wants to respect individual choices of labor and human capital but eliminate inequalities due to unequal access to human capital and different returns to human capital, and when earnings and human capital expenditures are the only verifiable...
Persistent link: https://www.econbiz.de/10010856555
Single-basined preferences generalize single-dipped preferences by allowing for multiple worst elements. These preferences have played an important role in areas such as voting, strategy-proofness and matching problems. We examine the notion of single-basinedness in a choice-theoretic setting....
Persistent link: https://www.econbiz.de/10010856570
We propose the concept of level r consensus as a useful property of a preference profile which considerably enhances the stability of social choice. This concept involves a weakening of unanimity, the most extreme form of consensus. It is shown that if a preference profile exhibits level r...
Persistent link: https://www.econbiz.de/10010877963
By using the standard combining logics technique (D. M. Gabbay 1999) we define a generalization of von Wright’s preference logic (G. H. von Wright 1963) enabling to express, on an almost propositional level, the individual and the social preference relations simultaneously. In this context we...
Persistent link: https://www.econbiz.de/10010938624
society should follow them. We characterize the resulting social preferences and show that it is enough that individuals share …
Persistent link: https://www.econbiz.de/10010942367
We show that feasible elimination procedures Peleg, 1978 can be used to select k from m alternatives. An important advantage of this method is the core property no coalition can guarantee an outcome that is preferred by all its members. We also provide an axiomatic characterization for the case...
Persistent link: https://www.econbiz.de/10011004610
Experiments evaluate the fit of human behaviour to the Shapley-Shubik power index (SSPI), a formula of voter power. Groups of six subjects with differing votes divide a fixed purse by majority rule in online chat rooms. Earnings proxy for measured power. Chat rooms and processes for selecting...
Persistent link: https://www.econbiz.de/10010956071
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...
Persistent link: https://www.econbiz.de/10010929862