In decision-making involving multiple criteria or attributes, a decision maker first identifies all relevant evaluative attributes in making decisions. Then, a dominance principle is often invoked whenever applicable: whenever an option <italic>x</italic> is better than an option <italic>y</italic> in terms of some attribute and...

Conditions α and β are two well-known rationality conditions in the theory of rational choice. This paper examines the implications of weaker versions of these two rationality conditions in the context of solutions to nonconvex bargaining problems. It is shown that, together with the standard...

This paper investigates the potential tradeoff between economic growth and regional equity in the design of fiscal decentralization policy in the context of China's experience. We develop a theoretical model of fiscal decentralization, where overall national economic growth and equity in the...

Using an extended framework in which an agent is endowed with three types of preference orders: an allocation preference order, an opportunity preference order, and an overall preference order, this paper introduces several notions related to efficiency and equity-as-no-envy and examines the...

This paper analyzes the measurement of the diversity of sets based on the dissimilarity of the objects contained in the set. We discuss axiomatic approaches to diversity measurement and examine the considerations underlying the application of specific measures. Our focus is on descriptive...

Two features of Arrow's social choice theory are critically scrutinized. The first feature is the welfarist-consequentialism, which not only bases social judgements about right or wrong actions on the assessment of their consequences, but also assesses consequences in terms of people's welfare...