Arrow's Theorem for Economic Domains and Edgeworth Hyperboxes
Kenneth J. Arrow's theorem holds when the set of alternatives is an Edgeworth hyperbox and the individuals have classical economic preferences over their consumption sets. (Free disposability is not assumed.) By classical individual preferences the authors mean preorders satisfying continuity, strict convexity, strict monotonicity, and selfishness. A minor, but noteworthy, accomplishment is the development of a general technique for extending two-commodity impossibility theorems to the general m-commodity counterpart. Copyright 1995 by Economics Department of the University of Pennsylvania and the Osaka University Institute of Social and Economic Research Association.
Volume (Year): 36 (1995)
Issue (Month): 2 (May)
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