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Agreement Theory and Consensus

Author

Listed:
  • Candeal, Juan Carlos

    (University of Zaragoza)

  • Induráin, Esteban

    (Universidad Pública de Navarra)

  • Molina, José Alberto

    (University of Zaragoza)

Abstract

In order to formalize the act of agreement between two individuals, the concept of consensus functional equation, for a bi-variate map defined on an abstract choice set, is introduced. Then, and in a purely choice-theoretical framework, we relate the solutions of this equation to the notion of a rationalizable agreement rule. Finally, some results about the specific functional form of the solutions of the consensus functional equation in the setup of monetary payoffs and lotteries, over two outcomes, are also shown.

Suggested Citation

  • Candeal, Juan Carlos & Induráin, Esteban & Molina, José Alberto, 2011. "Agreement Theory and Consensus," IZA Discussion Papers 6248, Institute of Labor Economics (IZA).
    • Handle: RePEc:iza:izadps:dp6248
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    Keywords

    rationalizable agreement rules; consensus equation;

    JEL classification:

    • C60 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - General
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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