A robust theory of resource allocation
The theory of social choice introduced in [5,6] is robust; it is completely independent of the choice of topology on spaces of preference. This theory has been fruitful in linking diverse forms of resource allocation; it has been shown  that contractibility is necessary and sufficient for solving the social choice paradox; this condition is equivalent  to another- limited arbitrage- which is necessary and sufficient for the existence of a competitive equilibrium and the core of an economy [13, 14, 15, 16, 17]. The space of monotone preferences is contractible; as shown already in [6, 17] such that spaces admit social choice rules. However, monotone preferences are of little interest in social choice theory becasue the essence of the social choice problem, such as Condorcet triples, rules out monotonicity.
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Volume (Year): 13 (1996)
Issue (Month): 1 (January)
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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.:
- Graciela Chichilnisky, 1982. "Social Aggregation Rules and Continuity," The Quarterly Journal of Economics, Oxford University Press, vol. 97(2), pages 337-352.
- Chichilnisky, Graciela, 1986. "Topological complexity of manifolds of preferences," MPRA Paper 8119, University Library of Munich, Germany.
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"Necessary and sufficient conditions for a resolution of the social choice paradox,"
8495, University Library of Munich, Germany, revised 20 Oct 1981.
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8042, University Library of Munich, Germany.
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- Chichilnisky, G., 1993. "Intersecting Families of Sets and the Topology of Cones in Economics," Papers 93-17, Columbia - Graduate School of Business.
- Chichilnisky, Graciela, 1990. "Social choice and the closed convergence topology," MPRA Paper 8353, University Library of Munich, Germany.
- Chichilnisky, Graciela, 1996. "Limited arbitrage is necessary and sufficient for the non-emptiness of the core," Economics Letters, Elsevier, vol. 52(2), pages 177-180, August.
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