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Individually Rational Collective Choice

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  • Andrés Carvajal

Abstract

There is a collection of exogenously given socially feasible sets, and, for each one of them, each individual in a group chooses from an individually feasible set. The fact that the product of the individually feasible sets is larger than the socially feasible set notwithstanding, there arises no conflict between individual choices. Assuming that individual preferences are random, I characterize rationalizable collective choices. Copyright Springer Science+Business Media, LLC 2007

Suggested Citation

  • Andrés Carvajal, 2007. "Individually Rational Collective Choice," Theory and Decision, Springer, vol. 62(4), pages 355-374, May.
    • Handle: RePEc:kap:theord:v:62:y:2007:i:4:p:355-374
    DOI: 10.1007/s11238-007-9027-5
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    References listed on IDEAS

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    1. Bandyopadhyay, Taradas & Dasgupta, Indraneel & Pattanaik, Prasanta K., 1999. "Stochastic Revealed Preference and the Theory of Demand," Journal of Economic Theory, Elsevier, vol. 84(1), pages 95-110, January.
    2. Matzkin, Rosa L. & Richter, Marcel K., 1991. "Testing strictly concave rationality," Journal of Economic Theory, Elsevier, vol. 53(2), pages 287-303, April.
    3. HILDENBRAND, Werner, 1971. "Random preferences and equilibrium analysis," LIDAM Reprints CORE 100, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    4. Hildenbrand, Werner, 1971. "Random preferences and equilibrium analysis," Journal of Economic Theory, Elsevier, vol. 3(4), pages 414-429, December.
    5. Daniel McFadden, 2005. "Revealed stochastic preference: a synthesis," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 26(2), pages 245-264, August.
    6. Clark, Stephen A, 1996. "The Random Utility Model with an Infinite Choice Space," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 7(1), pages 179-189, January.
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    Cited by:

    1. Monal Abdel-Baki, 2012. "A community-based framework for poverty alleviation: the case of post-revolution Egypt," International Journal of Social Economics, Emerald Group Publishing, vol. 39(2), pages 81-96, January.

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    More about this item

    Keywords

    collective choice; consumer choice; individual rationality; random utility; revealed preference; D70; D74; D12;
    All these keywords.

    JEL classification:

    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances; Revolutions
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis

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