IDEAS home Printed from https://ideas.repec.org/p/hal/journl/hal-04711109.html
   My bibliography  Save this paper

Bayesian Social Aggregation with Almost-Objective Uncertainty

Author

Listed:
  • Marcus Pivato

    (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université)

  • Élise Flore Tchouante

    (THEMA - Théorie économique, modélisation et applications - CNRS - Centre National de la Recherche Scientifique - CY - CY Cergy Paris Université)

Abstract

We consider collective decisions under uncertainty, when agents have generalized Hurwicz preferences, a broad class allowing many different ambiguity attitudes, including subjective expected utility preferences. We consider sequences of acts that are ``almost-objectively uncertain'' in the sense that asymptotically, all agents almost agree about the probabilities of the underlying events. We introduce a Pareto axiom, which applies only to asymptotic preferences along such almost-objective sequences. This axiom implies that the social welfare function is utilitarian, but it does not impose any constraint on collective beliefs. Next, we show that a Pareto axiom restricted to two-valued acts implies that collective beliefs are contained in the closed, convex hull of individual beliefs, but imposes no constraints on the social welfare function. Neither axiom entails any link between individual and collective ambiguity attitudes.

Suggested Citation

  • Marcus Pivato & Élise Flore Tchouante, 2024. "Bayesian Social Aggregation with Almost-Objective Uncertainty," Post-Print hal-04711109, HAL.
  • Handle: RePEc:hal:journl:hal-04711109
    DOI: 10.3982/TE5164
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Other versions of this item:

    More about this item

    Keywords

    Almost-objective uncertainty; Bayesian social aggregation; Bewley preferences; D70; D81; generalized Hurwicz; utilitarian;
    All these keywords.

    JEL classification:

    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:journl:hal-04711109. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.