Maximal elements of a binary relation on compact subsets of a metric space define a choice function. Necessary and sufficient conditions are found for: (1) the choice function to have nonempty values and be path independent; (2) the choice function to have nonempty values provided the underlying...

"Exit, Voice, and Loyalty" (A.O. Hirschman 1970) is a theoretical concept derived from the work of Albert O. Hirschman (1970) which is focused on two essential options in organizatios and products decline, being "exit" and "voice".The basis concept is as follows: members of an organization,...

This paper revisits the aggregation theorem of Chichilnisky (1980), replacing the original smooth topology by the closed convergence topology and responding to several comments (N. Baigent (1984, 1985, 1987, 1989), N. Baigent and P. Huang (1990) and M. LeBreton and J. Uriarte (1900 a, b)....

We establish a Theorem on Structural Inequality Indices which provides fundamental link between inequality measurement and a concept of social justice embedded in meritocracy framework by taking axiomatic approach and redefining standard properties of inequality indices in a way that...

“Written with the attempt to tell credible history and possible scenes, in order to anticipate still latent tendencies, or in order to imagine communities and societies more civil, richer than reciprocity, in all its shapes. ” (pp. XV). From this ambitious premised the author of the issue...

The paper is about application of evolutionary concept, particularly the application of natural selection process, to the study of movie industry. The importance of the application is that it allows for the heterogeneity and interdependency of market agents in analyzing the economic choice...

Acyclicity of individual preferences is a minimal assumption in social choice theory. We replace that assumption by the direct assumption that preferences have maximal elements on a fixed agenda. We show that the core of a simple game is nonempty for all profiles of such preferences if and only...

The Clarke Pivotal Voting Mechanism (CPVM) elicits truthful revelation of utility functions by requiring any `pivotal' voter to pay a monetary `Clarke tax'. This neglects wealth effects and gives disproportionate power to rich voters. We propose to replace the `Clarke tax' with a lottery,...

We investigate criteria for evaluating infinite utility streams that satisfy Fixed-step anonymity and includes some notion of overtaking or catching-up. We do so in a generalized setting which do not require us to specify the underlying finite-dimensional criterion (e.g., utilitarianism or...

September 1999 <p> Roberts' "weak neutrality" or "weak welfarism" theorem concerns Sen social welfare functionals which are defined on an unrestricted domain of utility function profiles and satisfy independence of irrelevant alternatives, the Pareto condition, and a form of weak continuity....</p>