Informational Requirements for Social Choice in Economic Environments

Marc Fleurbaey, Kotaro Suzumura, 興太郎 鈴村, コウタロウ スズムラ, Koichi Tadenuma and 宏一 蓼沼

No 2, Discussion Paper from Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University

Abstract: Arrow's celebrated theorem shows that the aggregation of individuals' preferences into a social ordering cannot make the ranking of any pair of alternatives depend only on individuals' preferences over that pair, unless the fundamental Pareto and non-dictatorship principles are violated. In a unified approach covering the theory of social choice and the theory of fair allocation, we investigate how much information is needed to rank a pair of allocations by social ordering functions and by allocation rules satisfying the Pareto principle and anonymity. In the standard model of division of commodities, we show that knowledge of a good portion of indifference hypersurfaces is needed for social ordering functions, whereas allocation rules require only knowledge of marginal rates of substitution.

JEL-codes: D63 D71 (search for similar items in EconPapers)
Pages: 32 pages
Date: 2000-11
Note: This version: November 2000 (First version: January 2000)
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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https://hermes-ir.lib.hit-u.ac.jp/hermes/ir/re/14477/pie_dp2.pdf

Related works:
Working Paper: Informational Requirements for Social Choice in Economic Environments (2000)
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Persistent link: https://EconPapers.repec.org/RePEc:hit:piedp1:2

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