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Ordering Pareto-Optima through Majority Voting

Author

Listed:
  • Mich Tvede

    (University of Copenhagen, Institute of Economics)

  • Hervé Crès

    (HEC School of Management)

Abstract

A commodity is shared between some individuals: There is an initial allocation; some selection procedures are used to choose an alternative allocation and; individuals decide between keeping the initial allocation or shifting to the alternative allocation. The selection procedures are supposed to involve an element of randomness in order to reflect uncertainty about economic, social and political processes. It is shown that for every allocation, 8 , there exists a number, . (8) 0 "0,1› such that, if the number of individuals tends to infinity, then the probability that a proportion of the population smaller (resp. larger) than . (8) prefers an allocation chosen by the selection procedure converges to 1 (resp. 0). The index . (8) yields a complete order in the set of Pareto optimal allocations. Illustrations and interpretations of the selection procedures are provided.

Suggested Citation

  • Mich Tvede & Hervé Crès, 2000. "Ordering Pareto-Optima through Majority Voting," Discussion Papers 00-15, University of Copenhagen. Department of Economics.
    • Handle: RePEc:kud:kuiedp:0015
    DOI: 10.1016/S0165-4896(00)00066-4
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    Cited by:

    1. repec:spo:wpmain: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-00598173, HAL.
    3. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," SciencePo Working papers hal-01064883, HAL.
    4. repec:spo:wpecon:info:hdl:2441/10284 is not listed on IDEAS
    5. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," Sciences Po Economics Publications (main) hal-01064883, HAL.
    6. 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.

    More about this item

    Keywords

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    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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