The contemporary theory of epistemic democracy often draws on the Condorcet Jury Theorem to formally justify the `wisdom of crowds''. But this theorem is inapplicable in its current form, since one of its premises---voter independence---is notoriously violated. This premise carries...

We consider voting rules on a multidimensional policy space for a continuum of voters with elliptic preferences. Assuming continuity, y-strategy-proofness - meaning that coalitions of size smaller or equal to a small number y cannot manipulate - and unanimity, we show that such rules are...

Following prospect theory we consider decision making under risk in which the decision maker''s preferences depend on a reference outcome. An outcome below this reference outcome is regarded as resulting from a loss: a loss decreases the decision maker''s basic utility more than a comparable...

This paper analyses the determinants of an important component of well-being amongindividuals aged 50 years or older in eleven European countries: satisfaction with social contacts. We use data from the Survey of Health, Ageing and Retirement in Europe and anchoring vignettes to correct for...

In this paper, we study the crime reducing potential of education, presenting causal statistical estimates based upon a law that changed the compulsory school leaving age in England and Wales. We frame the analysis in a regression-discontinuity setting and uncover significant decreases in...

Many real-life applications of house allocation problems are dynamic. For example, each year college freshmen move in and seniors move out of on-campus housing. Each student stays on campus for only a few years. A student is a `newcomer’ in the beginning and then becomes an ''existing...

It is well known that cointegration between the level of two variables (labeled Y_{t} and y_{t} inthis paper) is a necessary condition to assess the empirical validity of a present-value model (PVand PVM, respectively, hereafter) linking them. The work on cointegration has been so prevalentthat...

The paper proposes necessary and sufficient conditions for the natural implementation of(efficient) social choice correspondences (SCCs) in pure finite exchange economies when some ofthe agents are partially honest. A partially honest agent is an agent who strictly prefers to tellthe truth when...

This paper explores the relationship between graduates’ skill levels and the risk of overeducationand unemployment in 17 European countries. We distinguish between field-specific and generalskills and between two labour market segments, the occupational domain of a particular field ofstudy and...

We provide epistemic conditions for Nash equilibrium, which are considerably weaker than thestandard ones by Aumann and Brandenburger (1995). Indeed, we simultaneously replace commonknowledge of conjectures and mutual knowledge of rationality with strictly weaker epistemicconditions of pairwise...