Showing 1 - 10 of 1,101
Persistent link: https://www.econbiz.de/10005130045
Persistent link: https://www.econbiz.de/10001713913
Persistent link: https://www.econbiz.de/10006765472
An extension of Condorcet's paradox by McGarvey (1953) asserts that for every asymmetric relation R on a finite set of candidates there is a strict-preferences voter profile that has the relation R as its strict simple majority relation. We prove that McGarvey's theorem can be extended to...
Persistent link: https://www.econbiz.de/10005459364
Persistent link: https://www.econbiz.de/10005585395
In this paper we study the social preferences obtained from monotone neutral social welfare functions for random individual preferences. It turns out that there are two extreme types of behavior. On one side, there are social welfare functions, such as the majority rule, that lead to stochastic...
Persistent link: https://www.econbiz.de/10005585416
A review of Steven E. Landsburg's book More Sex is Safer Sex, the Unconventional Wisdom of Economics. The surprise 2005 best seller Freakonomics by Steven Levitt and Stephen Dubner launched a small genre of books by economists applying economic reasoning to everyday life and finding...
Persistent link: https://www.econbiz.de/10005596268
We describe a Fourier-theoretic formula for the probability of rational outcomes for random profiles for a social choice function on three alternatives. Several applications are given.
Persistent link: https://www.econbiz.de/10005596279
The purpose of this paper is to examine the extent to which the concepts of individual and collective choice unsed in economic theory desribe "predictable" or "learnable" behavior. Given a set X of N alternatives, a choice function c is a mapping which assigns to nonempty subsets S of X an...
Persistent link: https://www.econbiz.de/10005596291
Arrow's theorem asserts that under certain conditions every non-dictatorial social choice function leads to nonrational social choice for some profiles. In other words, for the case of non-dictatorial social choice if we observe that the society prefers alternative A over B and alternative B...
Persistent link: https://www.econbiz.de/10005752794