Quasitransitive intergenerational choice for economic environments

Article Abstract:

The overlapping generations model for infinite horizon intergenerational social choice settings is proven oligarchical on the conditions of strict nonimposition, Arrow's independence axiom and the generation of continuous and transitive strict social preference relations. The oligarchy is finite and preference relations of some members maybe inverted prior to incorporation into the group preference scheme. Application of the overlapping generations exchange economy in the definition of outcomes yields the same conclusions, while the unrestricted domain case yields stronger results.

Distribution of goods, Distribution (Commerce)

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Continuous-valued social choice

Article Abstract:

Social choice valuation is determined by using a minimal continuity factor, transitivity and limited choice between two similarly unfeasible options. The continuity factor, which proxies for practical variability, indicates the existence of an extreme alternative which is also supported by the transitivity and independent irrelevant options. The process leaves a social rule which can either be dictatorial or a preference-sensitive rule which provides for positive social welfare functions.

Research, Economic aspects, Value (Economics)

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Nash implementation and double implementation: equivalence theorems

Article Abstract:

Implementation of welfare policies needs to be backed by research on people's preferences for outcomes assumed to emanate from the said policies. The research design ought to be constructed by a person with a thorough knowledge of how the affected people would behave but who has no prior information regarding their preferences. The research tool must incorporate cases where the outcomes from the undominated Nash equilibria are smaller than those of Nash equilibria.

Economics, Research and Development in the Social Sciences and Humanities, Behavior Theory, Human behavior, Welfare economics

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