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Abstract Social Choice Problems and Concrete Resource Allocation Problems

In: The Axiomatics of Economic Design, Vol. 1

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  • William Thomson

    (University of Rochester)

Abstract

The contrast is often made between ranking the alternatives in a set of alternatives under consideration and choosing one of them. Ranking seems to be principally meaningful when the set is finite, as is typically assumed in the traditional theory of social choice, whereas choosing is more likely to be the objective when the production and distribution of physical resources have to be addressed: Infinitely many alternatives are typically available then. These are the types of problems that the theory of economic design is mainly concerned with. So, it’s important to discuss what the difference between ranking and choosing means and whether it matters.

Suggested Citation

  • William Thomson, 2023. "Abstract Social Choice Problems and Concrete Resource Allocation Problems," Studies in Choice and Welfare, in: The Axiomatics of Economic Design, Vol. 1, chapter 0, pages 19-40, Springer.
    • Handle: RePEc:spr:stcchp:978-3-031-29398-6_2
    DOI: 10.1007/978-3-031-29398-6_2
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