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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
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/10004992569
This paper considers two distinct procedures to lexicographically compose two criteria for social or individual decision making. The first procedure composes two 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/10004992576
When we construct social preferences, the Pareto principle is often in conflict with the equity criteria: there exist two allocations x and y such that x Pareto dominates y, but y is an equitable allocation whereas x is not. The efficiency-first principle requires to rank an allocation x higher...
Persistent link: https://www.econbiz.de/10004992577
We build a three-stage model of international negotiations on regulation of the level of total emissions of greenhouse gases, and examine the possibility of a cooperative agreement and the Pareto optimality of the outcome. First, we derive the condition for Pareto optimal allocations, which is...
Persistent link: https://www.econbiz.de/10004992580
We study the possibility of making social evaluations of allocations independently of individuals' preferences over unavailable commodities. This is related to the well-known problem of performing international comparisons of standard of living across countries with different consumption goods....
Persistent link: https://www.econbiz.de/10004992581
Persistent link: https://www.econbiz.de/10005112302
When we construct social preferences, the Pareto principle is often in conflict with the equity criteria: there exist two allocations x and y such that x Pareto dominates y, but y is an equitable allocation whereas x is not. The efficiency-first principle requires to rank an allocation x higher...
Persistent link: https://www.econbiz.de/10005018453
We build a three-stage game model of international negotiations on regulation of global emissions of greenhouse gases, and examine the Pareto optimality of an equilibrium allocation. First, we derive the condition for Pareto optimal allocations, which is an extension of the celebrated Samuelson...
Persistent link: https://www.econbiz.de/10005018519
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 for...
Persistent link: https://www.econbiz.de/10005018577