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Harsanyi's aggregation theorem with incomplete preferences

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  • Eric Danan
  • Thibault Gajdos
  • Jean-Marc Tallon

    ()
    (THEMA, Universite de Cergy-Pontoise and THEMA
    GREQAM, CNRS, Aix-Marseille University
    Universite Paris I Pantheon-Sorbonne, CNRS)

Abstract

We provide a generalization of Harsanyi (1955)'s aggregation theorem to the case of incomplete preferences at the individual and social level. Individuals and society have possibly incomplete expected utility preferences that are represented by sets of expected utility functions. Under Pareto indifference, social preferences are represented through a set of aggregation rules that are utilitarian in a generalized sense. Strengthening Pareto indifference to Pareto preference provides a refinement of the representation.

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Paper provided by THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise in its series THEMA Working Papers with number 2013-05.

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Date of creation: 2013
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Handle: RePEc:ema:worpap:2013-05

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Keywords: Incomplete preferences; aggregation; expected multi-utility; utilitarianism.;

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  1. repec:hal:journl:halshs-00266049 is not listed on IDEAS
  2. repec:hal:cesptp:halshs-00788647 is not listed on IDEAS
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  4. Chambers, Christopher & Takashi Hayashi, 2003. "Preference Aggregation under Uncertainty: Savage vs. Pareto," Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences 1184, California Institute of Technology, Division of the Humanities and Social Sciences.
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  7. Danan, Eric & Gajdos, Thibault & Tallon, Jean-Marc, 2013. "Aggregating sets of von Neumann–Morgenstern utilities," Journal of Economic Theory, Elsevier, Elsevier, vol. 148(2), pages 663-688.
  8. Dubra, Juan & Maccheroni, Fabio & Ok, Efe A., 2004. "Expected utility theory without the completeness axiom," Journal of Economic Theory, Elsevier, Elsevier, vol. 115(1), pages 118-133, March.
  9. DE MEYER, Bernard & MONGIN , Philippe, 1994. "A Note on Affine Aggregation," CORE Discussion Papers, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE) 1994014, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
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  13. Thibault Gajdos & Jean-Marc Tallon & Jean-Christophe Vergnaud, 2008. "Representation and aggregation of preferences under uncertainty," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00266049, HAL.
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  15. Hylland, Aanund & Zeckhauser, Richard J, 1979. "The Impossibility of Bayesian Group Decision Making with Separate Aggregation of Beliefs and Values," Econometrica, Econometric Society, Econometric Society, vol. 47(6), pages 1321-36, November.
  16. Özgür Evren, 2008. "On the existence of expected multi-utility representations," Economic Theory, Springer, Springer, vol. 35(3), pages 575-592, June.
  17. Eric Danan & Thibault Gajdos & Jean-Marc Tallon, 2010. "Aggregating sets of von Neumann-Morgenstern," Documents de travail du Centre d'Economie de la Sorbonne, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne 10068, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
  18. Ralph Keeney & Robert Nau, 2011. "A theorem for Bayesian group decisions," Journal of Risk and Uncertainty, Springer, Springer, vol. 43(1), pages 1-17, August.
  19. Zhou, Lin, 1997. "Harsanyi's Utilitarianism Theorems: General Societies," Journal of Economic Theory, Elsevier, Elsevier, vol. 72(1), pages 198-207, January.
  20. Juan Dubra & Efe A. Ok, 2002. "A Model of Procedural Decision Making in the Presence of Risk," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 43(4), pages 1053-1080, November.
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