Showing 141 - 150 of 194
We investigate the conflict between the ex ante and ex post criteria of social welfare in a novel axiomatic framework of individual and social decisions, which distinguishes between a subjective and an objective source of uncertainty. This framework permits us to endow the individuals and...
Persistent link: https://www.econbiz.de/10015252115
We define an intergenerational social welfare function Sigma from |R^|N (the set of all infinite-horizon utility streams) into *|R (the ordered field of hyperreal numbers). The function Sigma is continuous, linear, and increasing, and is well-defined even on unbounded (e.g. exponentially...
Persistent link: https://www.econbiz.de/10015253519
In many decisions under uncertainty, there are technological constraints on both the acts an agent can perform and the events she can observe. To model this, we assume that the set S of possible states of the world and the set X of possible outcomes each have a topological structure. The only...
Persistent link: https://www.econbiz.de/10015255120
Judgement aggregation is a model of social choice in which the space of social alternatives is the set of consistent evaluations (views) on a family of logically interconnected propositions, or yes/no-issues. Yet, simply complying with the majority opinion in each issue often yields a logically...
Persistent link: https://www.econbiz.de/10010327522
Sequential majority voting over interconnected binary propositions can lead to the overruling of unanimous consensus. We characterize, within the general framework of judgement aggregation, under what circumstances this happens for some sequence of the voting process. It turns out that the class...
Persistent link: https://www.econbiz.de/10010327523
We introduce a ranking of multidimensional alternatives, including uncertain prospects as a particular case, when these objects can be given a matrix form. This ranking is separable in terms of rows and columns, and continuous and monotonic in the basic quantities. Owing to the theory of...
Persistent link: https://www.econbiz.de/10011263572
What is the meaning of "majoritarianism" as a principle of democratic group decision-making in a judgement aggregation problem, when the propositionwise majority view is logically inconsistent? We argue that the majoritarian ideal is best embodied by the principle of "supermajority efficiency"...
Persistent link: https://www.econbiz.de/10011112824
We show that, in a sufficiently large population satisfying certain statistical regularities, it is often possible to accurately estimate the utilitarian social welfare function, even if we only have very noisy data about individual utility functions and interpersonal utility comparisons. In...
Persistent link: https://www.econbiz.de/10011113540
A ``difference preorder'' is a (possibly incomplete) preorder on a space of state changes (rather than the states themselves); it encodes information about preference intensity, in addition to ordinal preferences. We find necessary and sufficient conditions for a difference preorder to be...
Persistent link: https://www.econbiz.de/10011113704
We introduce a two-stage ranking of multidimensional alternatives, including uncertain prospects as particular case, when these objects can be given a suitable matrix form. The first stage defines a ranking of rows and a ranking of columns, and the second stage ranks matrices by applying natural...
Persistent link: https://www.econbiz.de/10011114411