Individually Rational Colective Choice Under Random Preferences
In this paper I consider the following problem: There is a collection of, exogenously given, socially feasible sets, and for each one of them, each one of a group of individuals chooses from an individually feasible set. The fact that the product of the individually feasible sets is larger than the socially feasible set notwithstanding, there arises no conflict between individuals. Assuming that individual preferences are random, I here characterize collective choices in terms of the way in wich individual preferences must co-vary in orden to explain them. I do this by combining standard revealed preference theory and its counterpart under random preferences.I also argue that there exist collective choices that cannon be rationalized, and hence that the individual rationality assumption can be refuted.
|Date of creation:|
|Date of revision:|
|Contact details of provider:|| Postal: |
Phone: (57-1) 3431111
Fax: (57-1) 2841686
Web page: http://www.banrep.org/publicaciones/pub_borra.htm
More information through EDIRC
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.:
- Rosa L. Matzkin & Marcel K. Richter, 1987.
"Testing Strictly Concave Rationality,"
Cowles Foundation Discussion Papers
844, Cowles Foundation for Research in Economics, Yale University.
When requesting a correction, please mention this item's handle: RePEc:bdr:borrec:232. 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: (Camilo Millán)
If references are entirely missing, you can add them using this form.