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...

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)...

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...

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...

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...

Different institutions can produce more (or less) preferred outcomes, in terms of citizens’ preferences. Consequently, citizen preferences over institutions may “inherit”—to use William Riker’s term—the features of preferences over outcomes. But the level of information and...

We conduct an experiment to assess the effects of different decision rules on the costs of decision making in a multilateral bargaining situation. Specifically, we compare the amount of costly delay observed in an experimental bargaining game under majority and unanimity rule. Our main finding...

Condorcet’s paradox occurs when there is no alternative that beats every other alternative by majority. The paradox may pose real problems to democratic decision making such as decision deadlocks and democratic paralysis. However, its relevance has been discussed again and again since the...