We characterize environments having a representative agent: an agent whose preferences over aggregate alternatives correspond to a weighted average of the population's utilities for the disaggregated alternatives. The existence of a representative agent imposes strong restrictions on individual...

In this paper we are concerned with the following question. Given an extended preference ordering under what conditions does there exist an empirical stochastic/social choice function which generates it? We use Farkas' lemma to obtain a necessary and sufficient condition under which such a...

In dynamic resource allocation models, the non-existence of voting equilibria is a generic phenomenon due to the multi-dimensionality of the choice space even if agents are heterogeneous only in their discount factors. Nevertheless, at each point in time there may exist a «median voter» whose...

This research examines how the reliance on emotional feelings as a heuristic influences the proposal of offers in negotiations. Results from three experiments based on the classic ultimatum game show that, compared to proposers who do not rely on their feelings, proposers who rely on their...

Discussions of the importance of public attitudes in shaping policy often lack clear evidence on causal relations between stated attitudes and observed behaviours. The 2011 OECD Survey of over 12,000 households allows analysing households’ environmental attitudes and behaviours in five...

A társadalmi jellegű externáliák következtében az egyén fogyasztási döntését nemcsak saját preferenciarendszere és a termék jellemzői határozzák meg, hanem a többi fogyasztó hatása is. A tanulmány megvizsgálja, hogy e fogyasztói externáliák két fő formájának, az...

Single-basined preferences generalize single-dipped preferences by allowing for multiple worst elements. These preferences have played an important role in areas such as voting, strategy-proofness and matching problems. We examine the notion of single-basinedness in a choice-theoretic setting....

Single-plateaued preferences generalize single-peaked preferences by allowing for multiple best elements. These preferences have played an important role in areas such as voting, strategy-proofness and matching problems. We examine the notion of single-plateauedness in a choice-theoretic...

We consider a growth model in which intergenerational transfers are made via stocks of private and public capital. Private capital is the outcome of individuals' private savings while decisions regarding public capital are made collectively. We hypothesize that private saving choices evolve...