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The Banks Set and the Uncovered Set in Budget Allocation Problems

In: Social Choice and Strategic Decisions

Author

Listed:
  • Bhaskar Dutta

    (University of Warwick)

  • Matthew O. Jackson

    (California Institute of Technology)

  • Michel Breton

    (University of Toulouse 1)

Abstract

Summary We examine how a society chooses to divide a given budget among various regions, projects or individuals. In particular, we characterize the Banks set and the Uncovered Set in such problems. We show that the two sets can be proper subsets of the set of all alternatives, and at times are very pointed in their predictions. This contrasts with well-known “chaos theorems,” which suggest that majority voting does not lead to any meaningful predictions when the policy space is multidimensional.

Suggested Citation

  • Bhaskar Dutta & Matthew O. Jackson & Michel Breton, 2005. "The Banks Set and the Uncovered Set in Budget Allocation Problems," Studies in Choice and Welfare, in: David Austen-Smith & John Duggan (ed.), Social Choice and Strategic Decisions, pages 163-199, Springer.
    • Handle: RePEc:spr:stcchp:978-3-540-27295-3_7
    DOI: 10.1007/3-540-27295-X_7
    as

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