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A Note on a Group Preference Axiomatization with Cardinal Utility

Author

Listed:
  • Luis C. Dias

    (Faculty of Economics, University of Coimbra, 3004-512 Coimbra, Portugal; and INESC Coimbra, 3000-033 Coimbra, Portugal)

  • Paula Sarabando

    (Polytechnic Institute of Viseu, 3504-510 Viseu, Portugal; and INESC Coimbra, 3000-033 Coimbra, Portugal)

Abstract

Kenneth Arrow's work on social welfare proposed a set of conditions that a function to aggregate ordinal preferences of the members of a group should satisfy, proving that it was not possible to satisfy all these assumptions simultaneously. Later, Ralph Keeney adapted these conditions and proposed a cardinal utility axiomatization for the problem of aggregating the utility functions. This note discusses in particular the condition of nondictatorship. It proposes stronger formulations for this condition to limit the maximum influence that an individual can have, and it presents the corresponding characterization of compliant group cardinal utility functions. An extension to address coalitions of individuals acting strategically is also discussed.

Suggested Citation

  • Luis C. Dias & Paula Sarabando, 2012. "A Note on a Group Preference Axiomatization with Cardinal Utility," Decision Analysis, INFORMS, vol. 9(3), pages 231-237, September.
    • Handle: RePEc:inm:ordeca:v:9:y:2012:i:3:p:231-237
    DOI: 10.1287/deca.1120.0244
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    References listed on IDEAS

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    Cited by:

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    2. Wolfgang Ossadnik & Stefanie Schinke & Ralf H. Kaspar, 2016. "Group Aggregation Techniques for Analytic Hierarchy Process and Analytic Network Process: A Comparative Analysis," Group Decision and Negotiation, Springer, vol. 25(2), pages 421-457, March.
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    4. Rakesh K. Sarin & L. Robin Keller, 2013. "From the Editors ---Group Decisions, Preference Elicitation, Experienced Utility, Survival Probabilities, and Portfolio Value of Information," Decision Analysis, INFORMS, vol. 10(2), pages 99-102, June.
    5. Pape, Tom, 2017. "Value of agreement in decision analysis: concept, measures and application," LSE Research Online Documents on Economics 68682, London School of Economics and Political Science, LSE Library.
    6. Tom Pape, 2020. "Value of agreement in decision analysis: Concept, measures and application," Papers 2012.13816, arXiv.org.
    7. Stanković Jelena & Popović Žarko & Kostevski Sanja, 2016. "Determination of Expert Group Preferences in the Multi-Criteria Model for the Analysis of Local Economic Environment," Economic Themes, Sciendo, vol. 54(2), pages 261-280, June.
    8. L. Robin Keller & Kelly M. Kophazi, 2012. "From the Editors ---Copulas, Group Preferences, Multilevel Defenders, Sharing Rewards, and Communicating Analytics," Decision Analysis, INFORMS, vol. 9(3), pages 213-218, September.

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