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...

This paper studies collective decision making when individual preferences can be represented by convex risk measures. It addresses the question whether there exist non-dictatorial aggregation functions of convex risk measures satisfying the following Arrow-type rationality axioms: a weak form of...

One of the basic principles of successful place marketing and branding is the thoughtful analysis of target groups needs and preferences. Many authors show favour to the city residents as the core target group. The residents may also be segmented into the smaller groups, and in some cases...

The constant elasticity of substitution (CES) function is widely used to model distributional preferences in modified dictator games. However, it has been pointed out that its parameter interpretations are inconsistent and problematic in applications. We constructed a model to address this issue...

We propose generalized versions of strong equity and Pigou-Dalton transfer principle. We study the existence and the real valued representation of social welfare relations satisfying these two generalized equity principles. Our results characterize the restrictions on one period utility domains...

We report a laboratory experiment that enables us to distinguish preferences for altruism (concerning tradeoffs between own payoffs and the payoffs of others) from social preferences (concerning tradeoffs between the payoffs of others). By using graphical representations of three-person Dictator...

We characterize a new quasi-ordering on the collection of opportunity (or choice) sets. This new rule combines two criteria: the individual preferences on the universal set of options and the number of maximal options in the opportunity set. This new rule is compared with the indirect utility...