Acyclic Probabilistic Social Decision Functions

Michael Treglia

Bulletin of Economic Research, 1999, vol. 51, issue 2, 163-69

Abstract: Social decision functions that incorporate elements of chance are often employed when equity considerations are of importance. The papers main result shows that in this extended framework acyclicity of the social preference relation implies the existence of at least one individual who has the ability to randomly veto a critical number of pairs of alternatives. Copyright 1999 by Blackwell Publishing Ltd and the Board of Trustees of the Bulletin of Economic Research

Date: 1999
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