Aggregating Local Preferences to Guide Marginal Policy Adjustments
We 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.
Volume (Year): 103 (2013)
Issue (Month): 3 (May)
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- Daniel J. Benjamin & Ori Heffetz & Miles S. Kimball & Nichole Szembrot, 2012.
"Beyond Happiness and Satisfaction: Toward Well-Being Indices Based on Stated Preference,"
NBER Working Papers
18374, National Bureau of Economic Research, Inc.
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"Arrovian aggregation in economic environments: how much should we know about indifference surfaces?,"
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Elsevier, vol. 124(1), pages 22-44, September.
- Fleurbaey, Marc & Suzumura, Kotaro & Tadenuma, Koichi, 2002. "Arrovian Aggregation in Economic Environments: How Much Should We Know About Indifference Surfaces?," Discussion Papers 2002-10, Graduate School of Economics, Hitotsubashi University.
- Fleurbaey, Marc & Suzumura, Kotaro & Tadenuma, Koichi, 2002. "Arrovian Aggregation in Economic Environments: How Much Should We Know About Indifference Surfaces?," Discussion Paper 121, Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University.
- Daniel J. Benjamin & Ori Heffetz & Miles S. Kimball & Alex Rees-Jones, 2012. "What Do You Think Would Make You Happier? What Do You Think You Would Choose?," American Economic Review, American Economic Association, vol. 102(5), pages 2083-2110, August.
- Feldstein, Martin, 1976. "On the theory of tax reform," Journal of Public Economics, Elsevier, vol. 6(1-2), pages 77-104.
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