The Strong Consistency of Neutral and Monotonic Binary Social Decision Rules

Satish Jain

MPRA Paper from University Library of Munich, Germany

Abstract: The purpose of this paper is to investigate the strong consistency of neutral and monotonic binary social decision rules. Individuals are assumed to satisfy von Neumann-Morgenstern axioms of individual rationality. The main result of the paper shows that there does not exist any neutral and monotonic non-null non-dictatorial binary social decision rule which is strongly consistent. The relationship between restricted preferences and the existence of strong equilibria is also investigated. It is shown that for every non-dictatorial social decision function satisfying the conditions of independence of irrelevant alternatives, neutrality, monotonicity and weak Pareto-criterion there exists a profile of individual orderings satisfying value-restriction corresponding to which there is no strong equilibrium.

Keywords: Binary Social Decision Rules; Strong Consistency; Neutrality; Monotonicity; Value-Restricted Preferences (search for similar items in EconPapers)
JEL-codes: D71 (search for similar items in EconPapers)
Date: 2020-10-25
New Economics Papers: this item is included in nep-isf and nep-mic
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