Political Economy and Social Welfare with Voting Procedure
Mathematical Economics, Social Science and Political Science are inter-related. In this paper, an attempt has been made to describe aspects of these subjects by introducing examples, definitions, mathematical calculations and discussions. Game Theory is included in this paper to study mathematical models in economics and political science especially to study Nash equilibrium. Success and failure of democracy are interpreted as different equilibria of a dynamic political game with cost of changing leadership. Unitary democracy can be frustrated when voters do not replace corrupt leaders. Federal democracy cannot be consistently frustrated at both national and provincial levels. Arrow’s theorem indicates that the aggregate of individuals’ preferences will not satisfy transitivity, indifference to irrelevant alternatives and non-dictatorship, simultaneously to enable one of the individuals becomes a dictator. In this paper both social welfare functions and social choice correspondence are considered in economical environments.
|Date of creation:||10 Oct 2009|
|Date of revision:||25 Sep 2009|
|Publication status:||Published in KASBIT Business Journal 2.2(2009): pp. 42-66|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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- Barberà, Salvador & Berga, Dolors & Moreno, Bernardo, 2010.
"Individual versus group strategy-proofness: When do they coincide?,"
Journal of Economic Theory,
Elsevier, vol. 145(5), pages 1648-1674, September.
- Salvador Barberà & Dolors Berga & Bernardo Moreno, 2009. "Individual versus group strategy proofedness: when do they coincide?," Working Papers 372, Barcelona Graduate School of Economics.
- Salvador Barberà & Dolors Berga & Bernardo Moreno, 2009. "Individual versus group strategy-proofness: when do they coincide?," UFAE and IAE Working Papers 761.09, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Barbera, Salvador, 1980. "Pivotal voters : A new proof of arrow's theorem," Economics Letters, Elsevier, vol. 6(1), pages 13-16.
- Barberà, Salvador & Coelho, Danilo, 2010. "On the rule of k names," Games and Economic Behavior, Elsevier, vol. 70(1), pages 44-61, September.
- Salvador Barberà & Danilo Coelho, 2004. "On the rule of K names," Working Papers 264, Barcelona Graduate School of Economics.
- Salvador Barberà & Danilo Coelho, 2004. "On the rule of K names," UFAE and IAE Working Papers 636.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC), revised 13 Mar 2007.
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