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Aggregation of Monotonic Bernoullian Archimedean preferences: Arrovian impossibility results

Author

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  • Herzberg, Frederik

    (Center for Mathematical Economics, Bielefeld University)

Abstract

Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (Economic Theory, 48:341–375, 2011) have recently proposed a very general axiomatisation of preferences in the presence of ambiguity, viz. Monotonic Bernoullian Archimedean (MBA) preference orderings. This paper investigates the problem of Arrovian aggregation of such preferences — and proves dictatorial impossibility results for both finite and infinite populations. Applications for the special case of aggregating expected-utility preferences are given. A novel proof methodology for special aggregation problems, based on model theory (in the sense of mathematical logic), is employed.

Suggested Citation

  • Herzberg, Frederik, 2014. "Aggregation of Monotonic Bernoullian Archimedean preferences: Arrovian impossibility results," Center for Mathematical Economics Working Papers 488, Center for Mathematical Economics, Bielefeld University.
    • Handle: RePEc:bie:wpaper:488
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    File URL: https://pub.uni-bielefeld.de/download/2675233/2901857
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    References listed on IDEAS

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    Cited by:

    1. Eric Danan & Thibault Gajdos & Brian Hill & Jean-Marc Tallon, 2016. "Robust Social Decisions," American Economic Review, American Economic Association, vol. 106(9), pages 2407-2425, September.
    2. Zuber, Stéphane, 2016. "Harsanyi’s theorem without the sure-thing principle: On the consistent aggregation of Monotonic Bernoullian and Archimedean preferences," Journal of Mathematical Economics, Elsevier, vol. 63(C), pages 78-83.
    3. Hill , Brian & Danan , Eric, 2014. "Aggregating Tastes, Beliefs, and Attitudes Under Uncertainty," HEC Research Papers Series 1057, HEC Paris.
    4. Frederik Herzberg, 2015. "Aggregating infinitely many probability measures," Theory and Decision, Springer, vol. 78(2), pages 319-337, February.

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