Robust Social Decisions

Eric Danan, Thibault Gajdos (), Brian Hill () and Jean-Marc Tallon
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Thibault Gajdos: LPC - Laboratoire de psychologie cognitive - AMU - Aix Marseille Université - CNRS - Centre National de la Recherche Scientifique
Brian Hill: GREGH - Groupement de Recherche et d'Etudes en Gestion à HEC - HEC Paris - Ecole des Hautes Etudes Commerciales - CNRS - Centre National de la Recherche Scientifique

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Abstract: We propose and operationalize normative principles to guide social decisions when individuals potentially have imprecise and heterogeneous beliefs, in addition to conflicting tastes or interests. To do so we adapt the standard Pareto principle to those preference comparisons that are robust to belief imprecision and characterize social preferences that respect this robust principle. We also characterize a suitable restriction of this principle. The former principle provides stronger guidance when it can be satisfied; when it cannot, the latter always provides minimal guidance.

Keywords: Associations; Criteria for Decision-Making under Risk and Uncertainty; Unambiguous preferences; Pareto dominance; Preference aggregation; D81; JEL Classification D71; Uncertainty; Social choice (search for similar items in EconPapers)
Date: 2016-09
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01415412v1
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Citations: View citations in EconPapers (35)

Published in American Economic Review, 2016, 106 (9), pp.2407 - 2425. ⟨10.1257/aer.20150678⟩

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Related works:
Journal Article: Robust Social Decisions (2016)
Working Paper: Robust Social Decisions (2016)
Working Paper: Robust Social Decisions (2015)
Working Paper: Robust Social Decisions (2015)
Working Paper: Aggregating Tastes, Beliefs, and Attitudes under Uncertainty (2014)
Working Paper: Aggregating Tastes, Beliefs, and Attitudes under Uncertainty (2014)
Working Paper: Aggregating Tastes, Beliefs, and Attitudes under Uncertainty (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-01415412

DOI: 10.1257/aer.20150678

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