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We generalize Harsanyi's social aggregation theorem. We allow the population to be infinite, and merely assume that individual and social preferences are given by strongly independent preorders on a convex set of arbitrary dimension. Thus we assume neither completeness nor any form of...
Persistent link: https://www.econbiz.de/10015257173
uncertainty or ambiguity. …
Persistent link: https://www.econbiz.de/10015262112
We present an abstract social aggregation theorem. Society, and each individual, has a preorder that may be interpreted as expressing values or beliefs. The preorders are allowed to violate both completeness and continuity, and the population is allowed to be infinite. The preorders are only...
Persistent link: https://www.econbiz.de/10015265506
The fact that voters can manipulate election outcomes by misrepresenting their true preferences over competing political parties or candidates is commonly viewed as a major flaw of democratic voting systems. It is argued that insincere voting typically leads to suboptimal voting outcomes....
Persistent link: https://www.econbiz.de/10015251535
We give two social aggregation theorems under conditions of risk, one for constant population cases, the other an extension to variable populations. Intra and interpersonal comparisons are encoded in a single `individual preorder'. The individual preorder then uniquely determines the social...
Persistent link: https://www.econbiz.de/10015252610
We give two social aggregation theorems under conditions of risk, one for constant population cases, the other an extension to variable populations. Intra and interpersonal comparisons are encoded in a single `individual preorder'. The individual preorder then uniquely determines the social...
Persistent link: https://www.econbiz.de/10015252815
This paper analyzes the interplay between social norms and economic incentives in the context of work decisions in the modern welfare state. We assume that to live off one's own work is a social norm, and that the larger the population fraction adhering to this norm, the more intensely it is...
Persistent link: https://www.econbiz.de/10010334956
We derive a family of probabilistic choice models including the multinomial logit model, from a microeconomic model in which the decision maker has to make some effort in order to avoid mistakes when implementing any desired outcome. The disutility of this effort enters the decision maker's goal...
Persistent link: https://www.econbiz.de/10010335088
In this paper we argue that the recent evidence on individuals' decision making is of high relevance for the measurement of poverty when switching from a static and certain to a dynamic and uncertain framework. The numerous proposed measures of multi-period poverty and vulnerability have until...
Persistent link: https://www.econbiz.de/10010343238
systems will export traditional commodities. Trade is always welfare improving before the resolution of uncertainty but the … of uncertainty. A temporary protection can be welfare improving for such risk averse countries which are often the less …
Persistent link: https://www.econbiz.de/10004980410