We provide possibility results on the aggregation of beliefs and tastes for Monotone, Bernoullian and Archimedian preferences of Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci, and Siniscalchi (2011). We propose a new axiom, Unambiguous Pareto Dominance, which requires that if the...

This paper quantifes the welfare gains from intra-form trade. We propose a model where rms have access to competing market strategies: export and multinational production. Due to technolog- ical appropriability issues, foreign affiliates import an intermediate input from the home headquarters....

We show that if the statistical distribution of utility functions in a population satisfies a certain condition, then a Condorcet winner will not only exist, but will also maximize the utilitarian social welfare function. We also show that, if people's utility functions are generated according...

Given a sufficiently large population satisfying certain statistical regularities, we show that it is often possible to accurately estimate the utilitarian social welfare func- tion and identify the welfare-maximizing social alternative, even if we only have very noisy data about individual...

Given a large enough population of voters whose utility functions satisfy certain statistical regularities, we show that voting rules such as the Borda rule, approval voting, and evaluative voting have a very high probability of selecting the social alternative which maximizes the utilitarian...

East Asian and Latin American economies present opposite exchange rate electoral cycles: exchange rates tend to be more depreciated before and appreciated after elections among East Asian economies, while the opposite is true in Latin America. We propose a explanation for these empirical...

We introduce a ranking of multidimensional alternatives, including un- certain prospects as a particular case, when these objects can be given a matrix form. This ranking is separable in terms of rows and columns, and continuous and monotonic in the basic quantities. Owing to the theory of...