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Ordering Pareto-Optima Through Majority Voting

Author

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  • Hervé, CRES
  • Mich, TVEDE

Abstract

A commodity is shared between some individuals; some selection procedure is used to choose allocations. In order to reflect that laws and rules rather than allocations are implemented and that they involve an element of randomness because of incomplete information, selection procedures are taken to be probability measures over the set of allocations. Illustrations and interpretations of the selection procedures are given.

Suggested Citation

  • Hervé, CRES & Mich, TVEDE, 1998. "Ordering Pareto-Optima Through Majority Voting," HEC Research Papers Series 638, HEC Paris.
    • Handle: RePEc:ebg:heccah:0638
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    References listed on IDEAS

    as
    1. Malinvaud, E, 1973. "Markets for an Exchange Economy with Individual Risks," Econometrica, Econometric Society, vol. 41(3), pages 383-410, May.
    2. Sven Berg, 1985. "Paradox of voting under an urn model: The effect of homogeneity," Public Choice, Springer, vol. 47(2), pages 377-387, January.
    3. Martin J. Osborne & Ariel Rubinstein, 2005. "Bargaining and Markets," Levine's Bibliography 666156000000000515, UCLA Department of Economics.
    4. Balasko, Yves, 1990. "Equivariant general equilibrium theory," Journal of Economic Theory, Elsevier, vol. 52(1), pages 18-44, October.
    5. Tovey, Craig A., 1997. "Probabilities of Preferences and Cycles with Super Majority Rules," Journal of Economic Theory, Elsevier, vol. 75(2), pages 271-279, August.
    6. Cass, David & Shell, Karl, 1983. "Do Sunspots Matter?," Journal of Political Economy, University of Chicago Press, vol. 91(2), pages 193-227, April.
    7. Cres, Herve, 1996. "Symmetric Smooth Consumption Externalities," Journal of Economic Theory, Elsevier, vol. 69(2), pages 334-366, May.
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    Cited by:

    1. repec:spo:wpecon:info:hdl:2441/10284 is not listed on IDEAS
    2. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," Working Papers hal-01064883, HAL.
    3. repec:hal:spmain:info:hdl:2441/10284 is not listed on IDEAS
    4. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," SciencePo Working papers hal-01064883, HAL.
    5. Cres, Herve & Rossi, Isabelle, 2000. "Symmetry breakings in Malinvaud's model with individual risks," Journal of Mathematical Economics, Elsevier, vol. 33(2), pages 239-269, March.
    6. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," SciencePo Working papers Main hal-01064883, HAL.
    7. repec:hal:wpspec:info:hdl:2441/10284 is not listed on IDEAS

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    More about this item

    Keywords

    Pareto-optimal allocations; infra-majority voting;

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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