Questions tagged [social-choice]

The study of how groups of people should make collective decisions. This can involve voting, bargaining, the application of some protocol (e.g. to fairly divide goods), or maximizing some measure of social welfare.

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Question about the Ellsberg Paradox in Expected Utility Theory

The von Neumann-Morgenstern theorem states that, assuming a person's preferences under risk satisfy certain rationality axioms, then there exists a utility function u, the von Neumann utility function,...
4
votes
1answer
107 views

Good books to learn social choice theory

I wanted to learn Social Choice Theory and have fine mathematical background. I have read about it as a part of advanced microeconomics (Jehle and Rene)- Arrow's Impossibility Theorem etc. and got ...
10
votes
2answers
314 views

How does GNU software development sustain economically?

I apologise if this question is out of topic, but it is simultaneously an economy and a programming question. If it should go to another SE communality, please indicate me. In theory, GNU software is ...
6
votes
1answer
339 views

Does vNM rationality depend on the good chosen?

The von Neumann-Morgenstern theorem states that, assuming a person's preferences under risk satisfy certain rationality axioms, then there exists a utility function u, the von Neumann utility function,...
7
votes
1answer
1k views

Condorcet's paradox: Is the majority rule transitive?

From this wikipedia link I would say that the majority rule is not transitive. Also I'm not sure I understand exactly what is transitivity in this situation... With a usual preference relation $x\...