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A competitive market mechanism is a prominent example of a nonbinary social choice rule, typically defined for a special class of economic environments in which each social state is an economic allocation of private goods, and individuals’ preferences concern only their own personal...
Persistent link: https://www.econbiz.de/10014025193
We develop a model that combines competitive exchange of private commodities across endogenously formed groups with public good provision and global collective decisions. There is a tension between local and global collective decisions. In particular, we show that group formation and collective...
Persistent link: https://www.econbiz.de/10010399075
This chapter surveys the literature on strategy proofness from a historical perspective. While I discuss the connections with other works on incentives in mechanism design, the main emphasis is on social choice models.
Persistent link: https://www.econbiz.de/10014025183
In this paper we are concerned with the following question. Given an extended preference ordering under what conditions does there exist an empirical stochastic/social choice function which generates it? We use Farkas' lemma to obtain a necessary and sufficient condition under which such a...
Persistent link: https://www.econbiz.de/10012987381
In this paper, we revisit a long-standing question on the structure of strategy-proof and Pareto-efficient social choice functions (SCFs) in classical exchange economies (Hurwicz (1972)). Using techniques developed by Myerson in the context of auction-design, we show that in a specific...
Persistent link: https://www.econbiz.de/10011674603
Persistent link: https://www.econbiz.de/10012105048
We examine preferences for redistribution inherent in Swedish tax policy 1971-2012 using the inverse optimal tax approach. The income distribution is carefully characterized with the help of administrative register data and we employ behavioral elasticities reflecting the perceived distortionary...
Persistent link: https://www.econbiz.de/10011559969
We examine preferences for redistribution inherent in Swedish tax policy 1971-2012 using the inverse optimal tax approach. The income distribution is carefully characterized with the help of administrative register data and we employ behavioral elasticities reflecting the perceived distortionary...
Persistent link: https://www.econbiz.de/10011566489
We develop and test a theory of voting and turnout decisions that integrates self-interest, social preferences, and expressive motives. Our model implies that if pocketbook benefits are relevant, voters either perceive their impact on the outcome to be non-negligible, or expressive motivations...
Persistent link: https://www.econbiz.de/10011645032
We develop and test a theory of voting and turnout decisions that integrates self-interest, social preferences, and expressive motives. Our model implies that if pocketbook benefits are relevant, voters either perceive their impact on the outcome to be non-negligible, or expressive motivations...
Persistent link: https://www.econbiz.de/10011657009