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Ordering Pareto-optima through majority voting

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  • Cres, Herve
  • Tvede, Mich

Abstract

A commodity is shared between some individuals: There is an initial allocation; some selection procedures are used to choose an alternative allocation and; individuals decide between keeping the initial allocation or shifting to the alternative allocation. The selection procedures are supposed to involve an element of randomness in order to reflect uncertainty about economic, social and political processes. It is shown that for every allocation, 8 , there exists a number, . (8) 0 "0,1› such that, if the number of individuals tends to infinity, then the probability that a proportion of the population smaller (resp. larger) than . (8) prefers an allocation chosen by the selection procedure converges to 1 (resp. 0). The index . (8) yields a complete order in the set of Pareto optimal allocations. Illustrations and interpretations of the selection procedures are provided.
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Suggested Citation

  • Cres, Herve & Tvede, Mich, 2001. "Ordering Pareto-optima through majority voting," Mathematical Social Sciences, Elsevier, vol. 41(3), pages 295-325, May.
    • Handle: RePEc:eee:matsoc:v:41:y:2001:i:3:p:295-325
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    1. repec:hal:spmain:info:hdl:2441/10284 is not listed on IDEAS
    2. repec:spo:wpecon:info:hdl:2441/10284 is not listed on IDEAS
    3. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," SciencePo Working papers Main hal-01064883, HAL.
    4. CRES, Herve, 2000. "Majority stable production equilibria : a multivariate mean shareholders theorem," HEC Research Papers Series 706, HEC Paris.
    5. Cres, Herve & Rossi, Isabelle, 2000. "Symmetry breakings in Malinvaud's model with individual risks," Journal of Mathematical Economics, Elsevier, vol. 33(2), pages 239-269, March.
    6. repec:spo:wpmain:info:hdl:2441/10284 is not listed on IDEAS
    7. Hervé Crès, 2000. "Majority Stable Production Equilibria: A Multivariate Mean Shareholders Theorem," SciencePo Working papers hal-01064883, HAL.
    8. repec:hal:wpspec:info:hdl:2441/10284 is not listed on IDEAS

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    More about this item

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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