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Arrovian Aggregation in Economic Environments: How Much Should We Know About Indifference Surfaces?

  • Fleurbaey, Marc
  • Suzumura, Kotaro
  • Tadenuma, Koichi

Arrow's celebrated theorem of social choice shows that the aggregation of individual preferences into a social ordering cannot make the ranking of any pair of alternatives depend only on individual preferences over that pair, unless the fundamental weak Pareto and nondictatorship principles are violated. In the standard model of division of commodities, we investigate how much information about indifference hypersurfaces is needed to construct social ordering functions satisfying the weak Pareto principle and anonymity. We show that local information such as marginal rates of substitution or the shapes "within the Edgeworth box" is not enough, and knowledge of substantially non-local information is necessary.

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File URL: http://hermes-ir.lib.hit-u.ac.jp/rs/bitstream/10086/14419/1/pie_dp121.pdf
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Paper provided by Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University in its series Discussion Paper with number 121.

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Length: 31 p.
Date of creation: Nov 2002
Date of revision:
Handle: RePEc:hit:piedp1:121
Note: November 2002 (First version: July 2001)
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  1. CHICHILNISKY , Graciela, 1995. "A Unified Perspective on Resource Allocation : Limited Arbitrage is Necessary and Sufficient for the Existence of a Competitive Equilibrium, the Core and Social Choice," CORE Discussion Papers 1995027, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. d'Aspremont, Claude & Gevers, Louis, 1977. "Equity and the Informational Basis of Collective Choice," Review of Economic Studies, Wiley Blackwell, vol. 44(2), pages 199-209, June.
  3. FLEURBAEY, Marc & MANIQUET, François, . "Fair social orderings," CORE Discussion Papers RP -1995, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. M. Fleurbaey & F. Maniquet, 2000. "Fair Social Orderings With Unequal Production Skills," THEMA Working Papers 2000-17, THEMA (THéorie Economique, Modélisation et Applications), Université de Cergy-Pontoise.
  5. Kenneth J. Arrow, 1950. "A Difficulty in the Concept of Social Welfare," Journal of Political Economy, University of Chicago Press, vol. 58, pages 328.
  6. Dirk Van de gaer & Marc Fleurbaey & Walter Bossert, 1999. "Responsibility, talent, and compensation: A second-best analysis," Review of Economic Design, Springer, vol. 4(1), pages 35-55.
  7. Bordes, Georges & Breton, Michel Le, 1989. "Arrovian theorems with private alternatives domains and selfish individuals," Journal of Economic Theory, Elsevier, vol. 47(2), pages 257-281, April.
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