Download e-book for iPad: A Primer in Social Choice Theory (LSE Perspectives in by Wulf Gaertner

By Wulf Gaertner

ISBN-10: 0199297509

ISBN-13: 9780199297504

ISBN-10: 0199297517

ISBN-13: 9780199297511

ISBN-10: 1429492791

ISBN-13: 9781429492799

This introductory textual content explores the idea of social selection. Written as a primer appropriate for complicated undergraduates and graduates, this article is going to act as a massive start line for college kids grappling with the complexities of social selection thought. Rigorous but available, this primer avoids using technical language and gives an up to date dialogue of this swiftly constructing box. this is often the 1st in a chain of texts released in organization with the LSE.

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Extra info for A Primer in Social Choice Theory (LSE Perspectives in Economic Analysis)

Example text

4. 4. A third diagrammatic proof The third proof provides a diagrammatic representation of Arrow’s theorem and was introduced by Blackorby, Donaldson and Weymark (1984). In order to keep the diagrams two-dimensional, the proof was given for only two individuals (though the authors briefly indicate how their proof can be extended to more than two persons). The reader certainly remembers our remark at the end of the first (original) proof that two individuals would suffice to show the Arrovian impossibility.

Consider the points a and b in II and let us assume that aP ∗ u. ¯ We will now argue that we then obtain bP ∗ u¯ as well. Why? Remember that each of the two persons is totally free to map his or her utility scale into another one by a strictly increasing transformation. It is easy to find a transformation (there are infinitely many) that maps a1 into b1 and u¯ 1 into u¯ 1 . Similarly, one can find another transformation that maps a2 into b2 and u¯ 2 into itself. 6(a) and (b) depict two such transformations.

The second thing would be to introduce a strong version of the Pareto principle. e. determines the social preference. In other words, we obtain a serial or lexicographic dictatorship. Finally, the reader should note how important and far-reaching the assumption of informational invariance with respect to strictly monotone transformations of the individuals’ utility scales has been in the proof above. 5. A short summary When Arrow had published his by now famous impossibility theorem, it came as a surprise to various welfare economists.

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A Primer in Social Choice Theory (LSE Perspectives in Economic Analysis) by Wulf Gaertner


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