Abstracts

Economics

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Game forms, rights, and the efficiency of social outcomes

Article Abstract:

An examination of what happens to Amartya Sen's paradox when individual rights are formulated in terms of a game form is presented. The compatibility of ethically acceptable rights structures and the Pareto principle are the main considerations in Sen's paradox. Several writers, though, doubt the appropriateness of Sen's method of modeling individual rights. They contend rights should be modeled using game forms.

Game theory

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Stochastic revealed preference and the theory of demand

Article Abstract:

A study was conducted to analyze and extend the deterministic revealed preference theory of consumers' behavior to support stochastic choices. A restriction on stochastic choices was integrated. It was characterized by a stochastic counterpart of the weak axiom of revealed preference. It also helped determine stochastic versions of nonpositivity of the own substitution effect and demand theorem.

Consumer Behavior, Stochastic processes, Demand (Economics)

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On ranking opportunity sets in economic environments

Article Abstract:

Freedom of choice is examined for given economic environments and compact opportunity sets are ranked.

Economic aspects, Economic research, Agency theory

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