The majority of results in the literature on general equilibrium are not for an economy (i.e. given an endowment and preferences), but rather, for a set of economies (i.e. a set of endowments given preferences). Therefore, we argue that the most appropriate robustness result requires perturbing...

We propose a foundation for expressive voting that is based on a novel theory of social preferences under risk. Under our proposal, expressive considerations in voting endogenously arise from the particular way in which risky social prospects are assessed. To motivate this connection, we relate...

Decision makers with other-regarding preferences may care not just about others' outcomes but also about their opportunities. In social situations involving risk, this often results in their choices violating stochastic dominance, a property that underlies both expected and non-expected utility...

We argue that when fiscal policy is endogenously determined, the incentives of redistributive politics associated with its formulation can endogenously add to the uncertainty and volatility that an economy faces. In particular, small shocks may get translated into large fluctuations. Our...

We propose and axiomatically characterize, within Harsanyi's impartial observer setting, a utilitarian social welfare function (SWF) that can accommodate concerns for procedural fairness. Under our proposal, concerns for procedural fairness in social welfare assessments are inherited from...

We propose and axiomatize a decision model of social preferences under risk that considers decision makers for whom generous behavior is driven largely by an egoistical desire to perceive themselves as prosocial. Our model considers a setup with a decision maker (DM) and one other individual. It...

We propose and axiomatize a decision model of social preferences under risk that captures motivated reasoning in social assessments. Our model considers a setup with a decision maker (DM) and one other individual. It highlights how the presence of risk enables the DM to egoistically exploit the...

We consider the class of choice functions that satisfy the never chosen (NC) and no binary cycles (NBC) conditions. The question that we ask is whether choice functions from this behavioral domain have a common structure that can be meaningfully characterized in terms of a decision criterion. We...