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Individually Rational Collective Choice

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  • Andrés Carvajal

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Abstract

There is a collection of exogenously given socially feasible sets, and, for each one of them, each individual in a group chooses from an individually feasible set. The fact that the product of the individually feasible sets is larger than the socially feasible set notwithstanding, there arises no conflict between individual choices. Assuming that individual preferences are random, I characterize rationalizable collective choices. Copyright Springer Science+Business Media, LLC 2007

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File URL: http://hdl.handle.net/10.1007/s11238-007-9027-5
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Bibliographic Info

Article provided by Springer in its journal Theory and Decision.

Volume (Year): 62 (2007)
Issue (Month): 4 (May)
Pages: 355-374

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Handle: RePEc:kap:theord:v:62:y:2007:i:4:p:355-374

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Web page: http://www.springerlink.com/link.asp?id=100341

Related research

Keywords: collective choice; consumer choice; individual rationality; random utility; revealed preference; D70; D74; D12;

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  1. Hildenbrand, Werner, 1971. "Random preferences and equilibrium analysis," Journal of Economic Theory, Elsevier, vol. 3(4), pages 414-429, December.
  2. Bandyopadhyay, Taradas & Dasgupta, Indraneel & Pattanaik, Prasanta K., 1999. "Stochastic Revealed Preference and the Theory of Demand," Journal of Economic Theory, Elsevier, vol. 84(1), pages 95-110, January.
  3. Matzkin, Rosa L. & Richter, Marcel K., 1991. "Testing strictly concave rationality," Journal of Economic Theory, Elsevier, vol. 53(2), pages 287-303, April.
  4. Daniel McFadden, 2005. "Revealed stochastic preference: a synthesis," Economic Theory, Springer, vol. 26(2), pages 245-264, 08.
  5. Clark, Stephen A, 1996. "The Random Utility Model with an Infinite Choice Space," Economic Theory, Springer, vol. 7(1), pages 179-89, January.
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Cited by:
  1. Monal Abdel-Baki, 2012. "A community-based framework for poverty alleviation: the case of post-revolution Egypt," International Journal of Social Economics, Emerald Group Publishing, vol. 39(2), pages 81-96, January.

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