Marcus Pivato
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Question about Social Welfare Function and Social Profile
5 votes

In its most general formulation, a social welfare function is just a utility function representing the preferences of "society as a whole" (or the preferences of a hypothetical "...

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Do any social welfare functionals, other than maximin, meet all of Arrow's conditions plus invariance regarding ordinal level comparability?
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5 votes

There are at least two other examples of SWFs that satisfy these conditions. The first is a positional dictatorship. Let N be the number of individuals (assume it is fixed). For any k between 1 and ...

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Non-axiomatic definition of well-being
4 votes

When you say that a policy's objective is to "maximize well-being", presumably you mean "maximize collective well-being". And presumably, by "collective" well-being, you mean some sort of aggregate ...

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Maximal Allais paradox
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4 votes

One must first distinguish two different senses in which the Allais Paradox can be seen as a "contradiction" of vNM independence; these correspond to the two different interpretations which can be ...

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Axiom of Minimal Liberalism & Sen's Theorem of Paretial Liberal
3 votes

Your question is a bit confused, because it mixes together several different things. For example, in the title, you mention Sen's Minimal Liberalism, but in the actual question, you don't mention Sen ...

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Social welfare in terms of preferences
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3 votes

The problem as you have described it is somewhat underspecified. At least three pieces of information are required to make further progress: Do you want a social welfare function (SWF), or just a ...

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Majority Rule and Single Peakedness
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3 votes

Suppose that A={a,b,c,....,z} is a finite set of social alternatives, and let P={>1,>2,....,>N} be a profile of strict preference orders on $A$ (where the set {1,2,...,N} indexes the voters). ...

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Theories that complement/contradict prospect theory?
3 votes

A good place to start would be the book Prospect Theory: For Risk and Ambiguity, by Peter Wakker (2010, Cambridge University Press). There is an entire area of economic theory called decision theory ...

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Social choice theory
3 votes

You are correct that it is not possible to violate Weak Pareto and Nondictatorship at the same time. But your explanation (second paragraph) is a bit muddled. Here is how I would put it. To prove, "...

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Is single-peaked preferences necessary for majority rule to be transitive and yield non-empty choice set?
2 votes

No, single-peakedness is not necessary for majority rule to be transitive. For example, "single-dipped" preference profiles (the vertical mirror image of "single-peaked" profiles) also produce ...

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Weighted voting: Vote of representative weighted by number of election votes
1 votes

The following recent article might be relevant to your question: Weighted representative democracy, Marcus Pivato and Arnold Soh, Journal of Mathematical Economics 88, pp.52-63, 2020. Abstract: We ...

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Question about the "No Dictator" Criterion in Arrow's Impossibility Theorem
Accepted answer
1 votes

Arrow's Theorem concerns a social preference function ---that is, a function that produces a group preference order for every possible profile of individual preferences. The axioms "Nondictatorship", ...

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Is a social choice aggregation rule defined for a set of weightings over the set of voters (N)?
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1 votes

First it is important to define our terms. The concept of "weighted voters" does not necessarily make sense for an arbitrary social choice rule. So presumably we are interested in social choice ...

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The Economical "justification" of mass killings
1 votes

I'm not really sure why this is tagged [social-welfare] or [welfare economics]. It seems to me that more appropriate tags would be [history] and/or [international economics] (since the question ...

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Example of social choice rule that does not satisly the unrestricted domain condition
0 votes

Your first question seems to be terminological. The standard definition of "unrestricted domain" says that the social choice rule produces a complete, transitive preference ranking for every profile ...

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