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Chapter 1 Impossibility theorems in the arrovian framework

Campbell, Donald E.; Kelly, Jerry S. - In: Handbook of social choice and welfare : volume 1, (pp. 35-94). 2002

Given a set of outcomes that affect the welfare of the members of a group, K.J. Arrow imposed the following five conditions on the ordering of the outcomes as a function of the preferences of the individual group members, and then proved that the conditions are logically inconsistent: • The...

Persistent link: https://www.econbiz.de/10014023842

Strategy-proofness in private good economies with linear preferences : an impossibility result

Cho, Wonki Jo; Thomson, William - In: Games and economic behavior 142 (2023), pp. 1012-1017

Persistent link: https://www.econbiz.de/10014470912

Economic Impossibility in Turkish Law from the Perspective of Law and Economics

Aksoy, Hüseyin Can; Schäfer, Hans-Bernd - Berkeley Electronic Press

We argue that the proposed introduction of the doctrine of economic impossibility in Article 137 of the reform draft of … a contract under economic impossibility should be based on three tests. First, between contract formation and … agreed price. We argue that the rule of economic impossibility, if diligently adjudicated, saves the parties transactions …

Persistent link: https://www.econbiz.de/10008461610

Efficiency and Collusion Neutrality of Solutions for Cooperative TU-Games

Brink, René van den - Tinbergen Institute - 2009

Three well-known solutions for cooperative TU-games are the Shapley value, the Banzhaf value and the equal division solution. In the literature various axiomatizations of these solutions can be found. Axiomatizations of the Shapley value often use efficiency which is not satisfied by the Banzhaf...

Persistent link: https://www.econbiz.de/10004964462

Decision Costs, Contract Excuse, and the Westinghouse Commercial Impracticability Case

Vandegrift, Donald - In: European Journal of Law and Economics 4 (1997) 1, pp. 41-54

Persistent link: https://www.econbiz.de/10005705241

On the impossibility of events of zero probability

Zaman, Asad - Volkswirtschaftliche Fakultät, … - 1987

A logically consistent way of maintaining the events of probability zero are actually impossible is presented.

Persistent link: https://www.econbiz.de/10005836288

A quantitative discursive dilemma

Claussen, Carl Andreas; Øistein Røisland. - Norges Bank - 2007

that fulfill Arrow's IIA-condition and neutrality. We show how possibility and impossibility depend on the functional form …

Persistent link: https://www.econbiz.de/10005649739

A simple impossibility result in behavioral contract theory

Immordino, Giovanni; Menichini, Anna Maria C.; Romano, … - In: Economics Letters 113 (2011) 3, pp. 307-309

This paper studies a contract between an optimistic agent and a realistic principal, both risk-neutral. Even with complete contracts and ex-ante symmetric information, it may be impossible to achieve the first-best unless the weight on emotions is sufficiently low.

Persistent link: https://www.econbiz.de/10010572240

Efficiency and Collusion Neutrality of Solutions for Cooperative TU-Games

Brink, Rene van den - Tinbergen Instituut - 2009

This discussion paper resulted in a publication in 'Games and Economic Behavior', 2012, 76, 344-348. <P> Three well-known solutions for cooperative TU-games are the Shapley value, the Banzhaf value and the equal division solution. In the literature various axiomatizations of these solutions can be...</p>

Persistent link: https://www.econbiz.de/10011256444

Liberty and its economies

Gourevitch, Alex - In: Politics, philosophy & economics : ppe 14 (2015) 4, pp. 365-390

Persistent link: https://www.econbiz.de/10011391940