Aggregating Local Preferences to Guide Marginal Policy Adjustments
AbstractWe propose a social choice rule for aggregating preferences elicited from surveys into a marginal adjustment of policy from the status quo. The mechanism is: (i) symmetric in its treatment of survey respondents; (ii) ordinal, using only the orientation of respondents’ indifference surfaces; (iii) local, using only preferences in the neighborhood of current policy; and (iv) what we call “first-order strategy-proof,” making the gains from misreporting preferences second order. The mechanism could be applied to guide policy based on how policy affects responses to subjective well-being surveys.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 18787.
Date of creation: Feb 2013
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Note: AG PE
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Other versions of this item:
- Daniel J. Benjamin & Ori Heffetz & Miles S. Kimball & Nichole Szembrot, 2013. "Aggregating Local Preferences to Guide Marginal Policy Adjustments," American Economic Review, American Economic Association, vol. 103(3), pages 605-10, May.
- D69 - Microeconomics - - Welfare Economics - - - Other
- H0 - Public Economics - - General
- I38 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - Government Programs; Provision and Effects of Welfare Programs
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-02-16 (All new papers)
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