Harsanyi's utilitarianism theorems: general societies

Article Abstract:

A study of Harsanyi's utilitarianism aggregation theorems for general societies is presented. The ethical relevance of Harsanyi's utilitarianism theorems, which are based on von Neumann and Morgenstern's work on choice under risk and Fleming's work on welfarism, are questioned by some scholars. Harsanyi's theorems aimed to find conditions under which society's utility function can be represented as a linear aggregation of individuals with various properties.

Utilitarianism, Social choice

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Experimentation, imitation, and stochastic stability

Article Abstract:

A study was conducted to model the dynamic interaction of two kinds of boundedly rational agents, experimenters and imitators. Various assumptions of a single experimenter were also examined. The experimenter is then assumed to carry out a virtual experiment. Simultaneous experimentations were carried out for the simulation. Results indicated that the stochastic process characterizing the agents is stable in the large and globally converges.

Stochastic processes

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A model of financial fragility

Article Abstract:

A dynamic, stochastic game-theoretic model of financial fragility is presented.

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