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Proximity by Numbers

Author

Listed:
  • Conal Duddy
  • Ashley Piggins

    (Department of Economics, National University of Ireland, Galway)

Abstract

Imagine that everyone in a group chooses a real number and then these numbers are combined to produce a group number. Suppose that when everyone moves strictly closer to some individual’s number, the group number either stays where it is or moves closer to this number. We call this the proximity condition. Restricting attention to group choice rules that are homogeneous of degree one and constant-preserving, we show that the only rules satisfying this property are dictatorships.

Suggested Citation

  • Conal Duddy & Ashley Piggins, 2009. "Proximity by Numbers," Working Papers 0155, National University of Ireland Galway, Department of Economics, revised 2009.
    • Handle: RePEc:nig:wpaper:0155
    as

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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=162
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    File URL: http://www.economics.nuig.ie/resrch/paper.php?pid=162
    File Function: Revised version, 2009
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    More about this item

    Keywords

    Proximity condition; merging function; impossibility theorem Algorithmic Trading; MACD;
    All these keywords.

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

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