We introduce a new consistency condition for neutral social welfare functions, called hyperstability. A social welfare function a selects a complete weak order from a profile PN of linear orders over any finite set of alternatives, given N individuals. Each linear order P in PN generates a...

The purpose of the model is to analyse the genesis and evolution of consumption oriented chat rooms in the Web space. We study an endogeneous consumption dynamics in which individuals make their buying decisions on the basis of a threefold information: their own consumption past experience...

Abstract We extend the Shapley-Scarf model of markets for indivisible goods without money to the case where couples of agents have joint preferences over the set of allocations. We show that the domain of (weakly) lexicographic preferences is maximal (for inclusion) for the existence of Core...