Political Economy and Social Welfare with Voting Procedure
Mathematical Economics, Social Science and Political Science are inter-related. In this paper, an attempt has been made to describe aspects of these subjects by introducing examples, definitions, mathematical calculations and discussions. Game Theory is included in this paper to study mathematical models in economics and political science especially to study Nash equilibrium. Success and failure of democracy are interpreted as different equilibria of a dynamic political game with cost of changing leadership. Unitary democracy can be frustrated when voters do not replace corrupt leaders. Federal democracy cannot be consistently frustrated at both national and provincial levels. Arrow?s theorem indicates that the aggregate of individuals? preferences will not satisfy transitivity, indifference to irrelevant alternatives and nondictatorship, simultaneously to enable one of the individuals becomes a dictator. In this paper both social welfare functions and social choice correspondence are considered in economical environments.
Volume (Year): 2 (2009)
Issue (Month): (December)
|Contact details of provider:|| Web page: http://kasbit.edu.pk/academics/academic-departments/marketing-management/|
More information through EDIRC
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Blackorby, Charles & Bossert, Walter & Donaldson, David, 2002. "Utilitarianism and the theory of justice," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 11, pages 543-596 Elsevier.
- Roger B. Myerson, 1984.
"Multistage Games with Communication,"
590, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Barbera, Salvador, 1980. "Pivotal voters : A new proof of arrow's theorem," Economics Letters, Elsevier, vol. 6(1), pages 13-16.
- Miller, Michael K., 2009. "Social choice theory without Pareto: The pivotal voter approach," Mathematical Social Sciences, Elsevier, vol. 58(2), pages 251-255, September.
- Myerson, Roger B., 2006. "Federalism and Incentives for Success of Democracy," Quarterly Journal of Political Science, now publishers, vol. 1(1), pages 3-23, January.
- Blackorby, C. & Donaldson, D. & Weymark, J.A., 1990.
"A Welfarist Proof Of Arrow'S Theorem,"
90a12, Universite Aix-Marseille III.
- Charles BLACKORBY & David DONALDSON & John A. WEYMARK, 1990. "A Welfarist Proof of Arrow's Theorem," Discussion Papers (REL - Recherches Economiques de Louvain) 1990031, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Barberà, Salvador & Berga, Dolors & Moreno, Bernardo, 2010.
"Individual versus group strategy-proofness: When do they coincide?,"
Journal of Economic Theory,
Elsevier, vol. 145(5), pages 1648-1674, September.
- Salvador Barberà & Dolors Berga & Bernardo Moreno, 2009. "Individual versus group strategy-proofness: when do they coincide?," UFAE and IAE Working Papers 761.09, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Salvador Barberà & Dolors Berga & Bernardo Moreno, 2009. "Individual versus group strategy proofedness: when do they coincide?," Working Papers 372, Barcelona Graduate School of Economics.
- Gibbard, Allan, 1978. "Straightforwardness of Game Forms with Lotteries as Outcomes," Econometrica, Econometric Society, vol. 46(3), pages 595-614, May.
- Roger B. Myerson, 1991.
"Effectiveness of Electoral Systems for Reducing Government Corruption: A Game-Theoretic Analysis,"
956, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Myerson Roger B., 1993. "Effectiveness of Electoral Systems for Reducing Government Corruption: A Game-Theoretic Analysis," Games and Economic Behavior, Elsevier, vol. 5(1), pages 118-132, January.
- Jamal Nazrul Islam & Haradhan Kumar Mohajan & Pahlaj Moolio, 2009. "Preference of Social Choice in Mathematical Economics," Indus Journal of Management & Social Science (IJMSS), Department of Business Administration, vol. 3(1), pages 18-38, June.
- Feldman, Allan M, 1974. "A Very Unsubtle Version of Arrow's Impossibility Theorem," Economic Inquiry, Western Economic Association International, vol. 12(4), pages 534-46, December.
- Sato, Shin, 2009. "Strategy-proof social choice with exogenous indifference classes," Mathematical Social Sciences, Elsevier, vol. 57(1), pages 48-57, January.
- Salvador Barberà & Danilo Coelho, 2004.
"On the rule of K names,"
UFAE and IAE Working Papers
636.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC), revised 13 Mar 2007.
- Islam, Jamal & Mohajan, Haradhan & Moolio, Pahlaj, 2008. "Preference of Social Choice in Mathematical Economics," MPRA Paper 50665, University Library of Munich, Germany, revised 20 Nov 2009.
- Drew Fudenberg & Jean Tirole, 1991. "Game Theory," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262061414, March.
- Myerson, Roger B., 2013.
"Fundamentals of Social Choice Theory,"
Quarterly Journal of Political Science,
now publishers, vol. 8(3), pages 305-337, 06.
- Storcken Ton, 2008. "Collective Choice Rules on Convex Restricted Domains," Research Memorandum 003, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
When requesting a correction, please mention this item's handle: RePEc:ksb:journl:v:2:y:2009:p:42-66. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Yasir Jaseem)
If references are entirely missing, you can add them using this form.