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Ordering Pareto-Optima Through Majority Voting

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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," Les Cahiers de Recherche 638, HEC Paris.
  • Handle: RePEc:ebg:heccah:0638
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    References listed on IDEAS

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    1. Malinvaud, E, 1973. "Markets for an Exchange Economy with Individual Risks," Econometrica, Econometric Society, vol. 41(3), pages 383-410, May.
    2. Balasko, Yves, 1990. "Equivariant general equilibrium theory," Journal of Economic Theory, Elsevier, vol. 52(1), pages 18-44, October.
    3. Sven Berg, 1985. "Paradox of voting under an urn model: The effect of homogeneity," Public Choice, Springer, vol. 47(2), pages 377-387, January.
    4. Martin J. Osborne & Ariel Rubinstein, 2005. "Bargaining and Markets," Levine's Bibliography 666156000000000515, UCLA Department of Economics.
    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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    Citations

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    Cited by:

    1. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," Sciences Po publications 706/2000, Sciences Po.
    2. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," Working Papers hal-01064883, HAL.
    3. CRES, Herve, 2000. "Majority stable production equilibria : a multivariate mean shareholders theorem," Les Cahiers de Recherche 706, HEC Paris.

    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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