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In this paper we provide two simple new versions of Arrow’s impossibility theorem, in a model with only one preference profile. Both versions are transparent, requiring minimal mathematical sophistication. The first version assumes there are only two people in society, whose preferences are...
Persistent link: https://www.econbiz.de/10003728416
This paper studies the possibility of strategy-proof rules yielding satisfactory solutions to matching problems. Alcalde and Barberá (1994) show that effcient and individually rational matching rules are manipulable in the one-to-one matching model. We pursue the possibility of strategy-proof...
Persistent link: https://www.econbiz.de/10003397473
We give a short and direct proof of Arrow's Impossibility Theorem. We shall show that unanimity and independence of irrelevant alternatives implies a preference invariance (PI) property for the social welfare function. Then we show that the PI property and unanimity imply the existence of a...
Persistent link: https://www.econbiz.de/10013071530
In this paper we provide two simple new versions of Arrow's impossibility theorem, in a model with only one preference profile. Both versions are transparent, requiring minimal mathematical sophistication. The first version assumes there are only two people in society, whose preferences are...
Persistent link: https://www.econbiz.de/10012727113
Persistent link: https://www.econbiz.de/10013079846
In a recent book and earlier studies, Donald Saari well clarifies the source of three classical impossibility theorems in social choice and proposes possible escape out of these negative results. The objective of this note is to illustrate the relevance of these explanations in justifying the...
Persistent link: https://www.econbiz.de/10003845939
Economic regulation is portrayed as the objective application of clear economic theory to data in order to develop …
Persistent link: https://www.econbiz.de/10014224404
We explore the frontier between possibility and impossibility results by analyzing different combinations of "pro-socialness" and "consistency" conditions. This exercise delivers stronger versions of four classical impossibility theorems, and offers a thorough understanding of connections among...
Persistent link: https://www.econbiz.de/10014164288
Arrow's original proof of his impossibility theorem proceeded in two steps: showing the existence of a decisive voter, and then showing that a decisive voter is a dictator. Barbera replaced the decisive voter with the weaker notion of a pivotal voter, thereby shortening the first step, but...
Persistent link: https://www.econbiz.de/10014128321
This paper studies the possibility of strategy-proof rules yielding satisfactory solutions to matching problems. Alcalde and Barberá (1994) show that efficient and individually rational matching rules are manipulable in the one-to-one matching model. We pursue the possibility of strategy-proof...
Persistent link: https://www.econbiz.de/10014053961