Showing 91 - 100 of 371
We study how to evaluate allocations independently of individual preferences over unavailable commodities. We prove impossibility results suggesting that such evaluations encounter serious difficulties. This is related to the well-known problem of performing international comparisons of standard...
Persistent link: https://www.econbiz.de/10008790376
We study the possibility of making social evaluations independently of individual preferences over non-consumed commodities. This is related to the well-known problem of performing international comparisons of standard of living across countries with different consumption goods. We prove...
Persistent link: https://www.econbiz.de/10005476205
We propose the concept of a universal social ordering, defined on the set of pairs of an allocation and a preference profile of any finite population. It is meant to unify evaluations and comparisons of social states with populations of possibly different sizes with various characteristics. The...
Persistent link: https://www.econbiz.de/10005783998
Arrow's celebrated theorem shows that the aggregation of individuals' preferences into a social ordering cannot make the ranking of any pair of alternatives depend only on individuals' preferences over that pair, unless the fundamental Pareto and non-dictatorship principles are violated. In a...
Persistent link: https://www.econbiz.de/10004992479
Arrow's celebrated theorem of social choice shows that the aggregation of individual preferences into a social ordering cannot make the ranking of any pair of alternatives depend only on individual preferences over that pair, unless the fundamental weak Pareto and nondictatorship principles are...
Persistent link: https://www.econbiz.de/10004992516
In a standard framework of choice theory, we formulate two contrasting principles for social choice under the efficiency-equity trade-off. The equity-first principle states that we should select from equitable allocations if any, but if the equity criterion is not at all effective for selection...
Persistent link: https://www.econbiz.de/10004992518
The theory of fair allocation is often favourably contrasted with the social choice theory in the search for escape routes from Arrow's impossibility theorem. Its success is commonly attributed to the fact that it is modest in its goal vis-`a-vis social choice theory, since it does not aspire...
Persistent link: https://www.econbiz.de/10004992521
In two-sided matching problems, we formulate (i) a concept of equity of matchings based on envy minimization, and (ii) a solidarity property of matching rules under "natural" and "simple" changes of preferences which represent enhancement of partnership of the pairs. We show that there exists no...
Persistent link: https://www.econbiz.de/10004992526
The Pareto efficiency criterion is often in conflict with the equity criteria as no-envy or as egalitarian-equivalence: An allocation x that is Pareto superior to another allocation y can be inferior to y in consideration of equity. This paper formalizes two differnet principles of social choice...
Persistent link: https://www.econbiz.de/10004992539
This paper considers two distinct procedures to lexicographically compose multiple criteria for social or individual decision making. The first procedure composes M binary relations into one, and then selects its maximal elements. The second procedure first selects the set of maximal elements of...
Persistent link: https://www.econbiz.de/10004992548