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A Social Choice Lemma on Voting over Lotteries with Applications to a Class of Dynamic Games

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  • Banks, Jeffrey S.
  • Duggan, John

Abstract

We prove a lemma characterizing majority preferences over lotteries on a subset of Euclidean space. Assuming voters have quadratic von Neumann-Morgenstern utility representations, and assuming existence of a majority undominated (or "core") point, the core voter is decisive: one lottery is majority-preferred to another if and only if this is the preference of the core voter. Several applications of this result to dynamic voting games are discussed.

Suggested Citation

  • Banks, Jeffrey S. & Duggan, John, 2003. "A Social Choice Lemma on Voting over Lotteries with Applications to a Class of Dynamic Games," Working Papers 1163, California Institute of Technology, Division of the Humanities and Social Sciences.
    • Handle: RePEc:clt:sswopa:1163
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