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In the standard arrovian framework and under the assumption that individual preferences and social outcomes are linear orders on the set of alternatives, we study the rules which satisfy suitable symmetries and obey the majority principle. In particular, supposing that individuals and...
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The article presents the problem of identification in parametric models from an algebraic point of view. We argue that it is not just another perspective but the proper one. That is, using our approach we can see the very nature of the identification problem, which is slightly different than...
Persistent link: https://www.econbiz.de/10008727902
Symmetry and Economic Invariance (second enhanced edition) explores how the symmetry and invariance of economic models can provide insights into their properties. Although the professional economist of today is adept at many of the mathematical techniques used in static and dynamic optimization...
Persistent link: https://www.econbiz.de/10014017255
In this paper we introduce basic notions of a new economic model where preference relations on commodities set are represented by a group action on Euclidean space instead of utility function. Conditions that ensure the existence of individual demand function and a general equilibrium in the...
Persistent link: https://www.econbiz.de/10010575629
Assuming that alternatives are three or more, we prove that if the set of anonymous, neutral and reversal symmetric minimal majority rules is nonempty, then it has at least two elements. We propose then further principles linked to equity and fairness that can be used to exclude some rules in...
Persistent link: https://www.econbiz.de/10010816297
In the standard arrovian framework and under the assumptions that individual preferences and social outcomes are linear orders over the set of alternatives, we provide necessary and sufficient conditions for the existence of anonymous, neutral and reversal symmetric rules and for the existence...
Persistent link: https://www.econbiz.de/10011201346