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Stability and Collective Rationality

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Author Info
Lensberg, Terje

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Abstract

A collective choice problem involves a set of agents and a set of feasi ble utility vectors. Many solutions to the collective choice problem (e.g., the Nash solution) are collectively rational, i.e., consistent with the maximization of some ordering of utility space. In this pap er, a stability condition due to J. C. Harsanyi is used to obtain the following integrability result: any solution satisfying Pareto optim ality, continuity, and bilateral stability can be represented by an a dditively separable Bergson-Samuelson social welfare function. Copyright 1987 by The Econometric Society.

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Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 55 (1987)
Issue (Month): 4 (July)
Pages: 935-61
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Handle: RePEc:ecm:emetrp:v:55:y:1987:i:4:p:935-61

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  1. Justin Leroux, 2006. "A discussion of the consistency axiom in cost-allocation problems," Cahiers de recherche 06-13, HEC Montréal, Institut d'économie appliquée. [Downloadable!]
  2. Charles Blackorby, & Walter Bossert & David Donaldson,, . "Rationalizable Solutions to Pure Population Problems," Discussion Papers 97/12, University of Nottingham, School of Economics. [Downloadable!]
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  3. Nir Dagan, 2008. "An axiomatization of the leveling tax-transfer policy," Economic theory and game theory 020, Nir Dagan. [Downloadable!]
  4. Youngsub Chun, 2001. "The Separability Principle in Bargaining," Working Paper Series no43, Institute of Economic Research, Seoul National University. [Downloadable!]
  5. Ok, E.A., 1996. "Inequality Averse Collective Choice," Working Papers 96-36, C.V. Starr Center for Applied Economics, New York University. [Downloadable!]
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