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Eliaz (2004) has established a "meta-theorem" for preference aggregation which implies both Arrow's Theorem (1963) and the Gibbard-Satterthwaite Theorem (1973, 1975). This theorem shows that the driving force behind impossibility theorems in preference aggregation is the mutual exclusiveness of...
Persistent link: https://www.econbiz.de/10003818219
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...
Persistent link: https://www.econbiz.de/10008736325
Persistent link: https://www.econbiz.de/10011479865
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...
Persistent link: https://www.econbiz.de/10003818194
The theory of Boolean algebras can be fruitfully applied to judgment aggregation: Assuming universality, systematicity and a sufficiently rich agenda, there is a correspondence between (i) non-trivial deductively closed judgment aggregators and (ii) Boolean algebra homomorphisms defined on the...
Persistent link: https://www.econbiz.de/10003818223
This paper continues Dietrich and List's [2010] work on propositional-attitude aggregation theory, which is a generalised unification of the judgment-aggregation and probabilistic opinion-pooling literatures. We first propose an algebraic framework for an analysis of (many-valued)...
Persistent link: https://www.econbiz.de/10008902962
Persistent link: https://www.econbiz.de/10003948422
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,...
Persistent link: https://www.econbiz.de/10008735707
Persistent link: https://www.econbiz.de/10010513810
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...
Persistent link: https://www.econbiz.de/10010234048