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Arrow's celebrated theorem of social choice shows that the aggregation of individual preferences into a social ordering cannot make the ranking of any pair of alternatives depend only on individual preferences over that pair, unless the fundamental weak Pareto and nondictatorship principles are...
Persistent link: https://www.econbiz.de/10004992516
We propose the concept of a universal social ordering, defined on the set of pairs of an allocation and a preference profile of any finite population. It is meant to unify evaluations and comparisons of social states with populations of possibly different sizes with various characteristics. The...
Persistent link: https://www.econbiz.de/10004992569
We study the possibility of making social evaluations of allocations independently of individuals' preferences over unavailable commodities. This is related to the well-known problem of performing international comparisons of standard of living across countries with different consumption goods....
Persistent link: https://www.econbiz.de/10004992581