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Arrovian aggregation in economic environments: how much should we know about indifference surfaces?

Listed author(s):
  • Fleurbaey, Marc
  • Suzumura, Kotaro
  • Tadenuma, Koichi

Arrow's celebrated theorem of social choice shows that the aggregation of individual preferences into a social ordering cannot make the ranking of any pair of alternatives depend only on individual preferences over that pair, unless the fundamental weak Pareto and non-dictatorship principles are violated. In the standard model of division of commodities, we investigate how much information about indifference hypersurfaces is needed to construct social ordering functions satisfying the weak Pareto principle and anonymity. We show that local information such as marginal rates of substitution or the shapes "within the Edgeworth box" is not enough, and knowledge of substantially non-local information is necessary.

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Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 124 (2005)
Issue (Month): 1 (September)
Pages: 22-44

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Handle: RePEc:eee:jetheo:v:124:y:2005:i:1:p:22-44
Contact details of provider: Web page: http://www.elsevier.com/locate/inca/622869

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  1. Kevin W. S. Roberts, 1980. "Interpersonal Comparability and Social Choice Theory," Review of Economic Studies, Oxford University Press, vol. 47(2), pages 421-439.
  2. Marc Fleurbaey & François Maniquet, 2008. "Fair social orderings," Post-Print hal-00246525, HAL.
  3. Suzumura, Kotaro, 1981. "On pareto-efficiency and the no-envy concept of equity," Journal of Economic Theory, Elsevier, vol. 25(3), pages 367-379, December.
  4. Elisha A. Pazner & David Schmeidler, 1978. "Egalitarian Equivalent Allocations: A New Concept of Economic Equity," The Quarterly Journal of Economics, Oxford University Press, vol. 92(4), pages 671-687.
  5. Bordes, Georges & Breton, Michel Le, 1989. "Arrovian theorems with private alternatives domains and selfish individuals," Journal of Economic Theory, Elsevier, vol. 47(2), pages 257-281, April.
  6. Hammond, Peter J, 1976. "Equity, Arrow's Conditions, and Rawls' Difference Principle," Econometrica, Econometric Society, vol. 44(4), pages 793-804, July.
  7. Claude D'Aspremont & Louis Gevers, 1977. "Equity and the Informational Basis of Collective Choice," Review of Economic Studies, Oxford University Press, vol. 44(2), pages 199-209.
  8. Kenneth J. Arrow, 1950. "A Difficulty in the Concept of Social Welfare," Journal of Political Economy, University of Chicago Press, vol. 58, pages 328-328.
  9. Tadenuma, Koichi, 1998. "Efficiency First or Equity First?: Two Principles and Rationality of Social Choice," Discussion Papers 1998-01, Graduate School of Economics, Hitotsubashi University.
  10. M. Fleurbaey & F. Maniquet, 2000. "Fair Social Orderings With Unequal Production Skills," THEMA Working Papers 2000-17, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  11. Chichilnisky, G, 1996. "A Unified Perspective on Resource Allocation : Limited Arbitrage is Necessary and Sufficient for the Existence of a Competitive Equilibrium, the Core and Social Choice," Papers 96-20, Columbia - Graduate School of Business.
  12. Dirk Van de gaer & Marc Fleurbaey & Walter Bossert, 1999. "Responsibility, talent, and compensation: A second-best analysis," Review of Economic Design, Springer;Society for Economic Design, vol. 4(1), pages 35-55.
  13. Ehud Kalai & Eitan Muller & Mark Satterthwaite, 1979. "Social welfare functions when preferences are convex, strictly monotonic, and continuous," Public Choice, Springer, vol. 34(1), pages 87-97, March.
  14. Suzumura, Kotaro, 1981. "On the Possibility of "Fair" Collective Choice Rule," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 22(2), pages 351-364, June.
  15. Marc Fleurbaey & Maurice Salles & John Weymark, 2008. "Justice, Political Liberalism and Utilitarianism," Post-Print hal-00246415, HAL.
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