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Economics

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Coalitional power structure in stochastic social choice functions with an unrestricted preference domain

Article Abstract:

Social choice probabilities can be determined by the existing coalition power and individual preferences. Probabilistic social choice offers more possible satisfaction of preferences because of its generalized rules on fairness and collective decision-making. Other frameworks, which are based on deterministic processes, impose decisiveness requirements on groups of individuals in their decision-making. However, the two frameworks both consider stochastic social welfare and stochastic social choice functions.

Research, Models, Evaluation, Stochastic processes, Social choice

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A model of choice where choice is determined by an ordered set of irreducible criteria

Article Abstract:

Demand functions can exist independent of a strict convexity of preferences assumption, although the substitution effect is sensitive to the number of predominant criteria at equilibrium. A model of choice is developed explicitly in terms of the satisfaction of a set of irreducible criteria, imposing axioms on the criteria and employing the lexicographic principle. The model could be applied to decisions made by entrepreneurs and public officials, and supports the concept of a representative consumer.

Demand functions (Economics), Demand functions

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Criteria for distributive equity: characterization in terms of share value

Article Abstract:

The equitable distribution of social property can be achieved under several conditions, namely: egalitarian equivalence, freedom from envy and guarantee of equal split. However, these criteria can only achieve the requirements for population solidarity and resource monotonicity under several conditions. These conditions can be properly examined by restating equity criteria in terms of share value.

Distribution (Economics), Resource allocation

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