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Persistent link: https://www.econbiz.de/10008673851
Voting on unidimensional issues will produce equilibrium outcomes if voter preferences are single peaked. While the … equilibrium outcomes would not necessarily be Pareto optimal, they would be stable. This paper shows that voting on …
Persistent link: https://www.econbiz.de/10005556972
This paper provides a distance based analysis of the Borda rule with respect to Condorcet’s criterion. It shows that the minimal Condorcet consistency present in the Borda rule, whenever a Condorcet winner (the alternative that wins against every other alternative in a pairwise contest)...
Persistent link: https://www.econbiz.de/10005809732
It is shown that a fundamental question of revealed preference theory, namely whether the weak axiom of revealed preference (WARP) implies the strong axiom of revealed preference (SARP), can be reduced to a Hamiltonian cycle problem: A set of bundles allows a preference cycle of irreducible...
Persistent link: https://www.econbiz.de/10010988776
This work consists of two parts: First, it is shown that for a two-dimensional commodity space any homothetic utility function that rationalizes each pair of observations in a set of consumption data also rationalizes the entire set of observations. The result is stated as a pairwise version of...
Persistent link: https://www.econbiz.de/10005548378
It is well known that when all voters in an electorate have preferences consistent with a single underlying dimension, then the electorate's aggregate preferences must be transitive. However, analyses of historical elections suggest that voters frequently view political alternatives (parties and...
Persistent link: https://www.econbiz.de/10010777815
Arrow showed that there is no general way to aggregate non-interpersonally comparable preferences or welfare into either a sensible social choice or a social welfare measure. With majority rule the problem manifests itself as voting cycles. The standard response to this problem has been...
Persistent link: https://www.econbiz.de/10010777988
Persistent link: https://www.econbiz.de/10005674532
Nondeterministic models of collective choice posit convergence among the outcomes of simple-majority decisions. The object of this research is to estimate the extent of convergence of majority choice under different procedural conditions. The paper reports results from a computer simulation of...
Persistent link: https://www.econbiz.de/10005678327
to as that of disequilibrium, equilibrium instability, or even"chaos", was first underplayed and then deemed ominous to …
Persistent link: https://www.econbiz.de/10005579057