Economics at your fingertips  

A Behavioral Arrow Theorem

Alan Miller () and Shiran Rachmilevitch

No WP2012/7, Working Papers from University of Haifa, Department of Economics

Abstract: In light of research indicating that individual behavior may violate standard assumptions of rationality, we modify the standard model of preference aggregation to study the case in which neither individual nor collective preferences are required to satisfy transitivity or other coherence conditions. We introduce the concept of an ordinal rationality measure which can be used to compare preference relations in terms of their level of coherence. Using this measure, we introduce a monotonicity axiom which requires that the collective preference become more rational when the individual preferences become more rational. We show that for any ordinal rationality measure, it is impossible to nd a collective choice rule which satis es the monotonicity axiom and the other standard assumptions introduced by Arrow (1963): unrestricted domain, weak Pareto, independence of irrelevant alternatives, and nondictatorship.

Keywords: Aggregation; Axioms; Intransitivity; Coherence; Monotonicity (search for similar items in EconPapers)
JEL-codes: D60 D70 D71 (search for similar items in EconPapers)
Pages: 11
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this paper

More papers in Working Papers from University of Haifa, Department of Economics 199 Aba Khoushy Ave., Mount Carmel, Haifa, Israel, 3498838. Contact information at EDIRC.
Bibliographic data for series maintained by Anna Rubinchik ().

Page updated 2021-04-18
Handle: RePEc:haf:huedwp:wp201207