The Arrow Impossibility Theorem

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The Arrow Impossibility Theorem

Author : Eric Maskin
Publisher : Columbia University Press
ISBN 13 : 0231153287
Total Pages : 164 pages
Book Rating : 4.2/5 (311 download)

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Book Synopsis The Arrow Impossibility Theorem by : Eric Maskin

Download or read book The Arrow Impossibility Theorem written by Eric Maskin and published by Columbia University Press. This book was released on 2014-07-08 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: Kenneth Arrow's pathbreaking Òimpossibility theoremÓ was a watershed in the history of welfare economics, voting theory, and collective choice, demonstrating that there is no voting rule that satisfies the four desirable axioms of decisiveness, consensus, nondictatorship, and independence. In this book, Amartya Sen and Eric Maskin explore the implications of ArrowÕs theorem. Sen considers its ongoing utility, exploring the theoremÕs value and limitations in relation to recent research on social reasoning, while Maskin discusses how to design a voting rule that gets us closer to the idealÑgiven that achieving the ideal is impossible. The volume also contains a contextual introduction by social choice scholar Prasanta K. Pattanaik and commentaries from Joseph E. Stiglitz and Kenneth Arrow himself, as well as essays by Sen and Maskin outlining the mathematical proof and framework behind their assertions.

Social Choice and Individual Values

Author : Kenneth Joseph Arrow
Publisher : Yale University Press
ISBN 13 : 9780300013641
Total Pages : 152 pages
Book Rating : 4.0/5 (136 download)

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Book Synopsis Social Choice and Individual Values by : Kenneth Joseph Arrow

Download or read book Social Choice and Individual Values written by Kenneth Joseph Arrow and published by Yale University Press. This book was released on 1963-01-01 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: The literature on the theory of social choice has grown considerably beyond the few items in existence at the time the first edition of this book appeared in 1951. Some of the new literature has dealt with the technical, mathematical aspects, more with the interpretive. My own thinking has also evolved somewhat, although I remain far from satisfied with present formulations. The exhaustion of the first edition provides a convenient time for a selective and personal stocktaking in the form of an appended commentary entitled, 'Notes on the Theory of Social Choice, 1963, ' containing reflections on the text and its omissions and on some of the more recent literature. This form has seemed more appropriate than a revision of the original text, which has to some extent acquired a life of its own.

Arrow Impossibility Theorems

Author : Jerry S. Kelly
Publisher : Academic Press
ISBN 13 : 1483271269
Total Pages : 207 pages
Book Rating : 4.4/5 (832 download)

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Book Synopsis Arrow Impossibility Theorems by : Jerry S. Kelly

Download or read book Arrow Impossibility Theorems written by Jerry S. Kelly and published by Academic Press. This book was released on 2014-05-10 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arrow Impossibility Theorems is a 10-chapter text that describes existing impossibility theorems. This book explores a number of formalizations of ethical constraints of the theorems. After an introduction to the framework and notation for Arrow impossibility theorems, this book goes on discussing some concepts and an apparatus of relations among those concepts which are important for the theorems. Other chapters present some impossibility results that serve to point out serious difficulties in some plausible escape routes from the theorems of earlier chapters. The final chapter describes important areas of research that have arisen in the collective choice field in the transition away from studying the conditions of Arrow's theorem alone to the totality of all impossibility theorems. This book is intended primarily for economists.

Social Choice and Individual Values

Author : Kenneth J. Arrow
Publisher : Yale University Press
ISBN 13 : 0300186983
Total Pages : 347 pages
Book Rating : 4.3/5 (1 download)

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Book Synopsis Social Choice and Individual Values by : Kenneth J. Arrow

Download or read book Social Choice and Individual Values written by Kenneth J. Arrow and published by Yale University Press. This book was released on 2012-06-26 with total page 347 pages. Available in PDF, EPUB and Kindle. Book excerpt: Originally published in 1951, "Social Choice and Individual Values" introduced "Arrow's Impossibility Theorem" and founded the field of social choice theory in economics and political science. This new edition, including a new foreword by Nobel laureate Eric Maskin, reintroduces Arrow's seminal book to a new generation of students and researchers."Far beyond a classic, this small book unleashed the ongoing explosion of interest in social choice and voting theory. A half-century later, the book remains full of profound insight: its central message, 'Arrow's Theorem, ' has changed the way we think."--Donald G. Saari, author of "Decisions and Elections: Explaining the Unexpected "

Welfare Economics and Social Choice Theory

Author : Allan M. Feldman
Publisher : Springer Science & Business Media
ISBN 13 : 038729368X
Total Pages : 401 pages
Book Rating : 4.3/5 (872 download)

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Book Synopsis Welfare Economics and Social Choice Theory by : Allan M. Feldman

Download or read book Welfare Economics and Social Choice Theory written by Allan M. Feldman and published by Springer Science & Business Media. This book was released on 2006-06-14 with total page 401 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book covers the main topics of welfare economics — general equilibrium models of exchange and production, Pareto optimality, un certainty, externalities and public goods — and some of the major topics of social choice theory — compensation criteria, fairness, voting. Arrow's Theorem, and the theory of implementation. The underlying question is this: "Is a particular economic or voting mechanism good or bad for society?" Welfare economics is mainly about whether the market mechanism is good or bad; social choice is largely about whether voting mechanisms, or other more abstract mechanisms, can improve upon the results of the market. This second edition updates the material of the first, written by Allan Feldman. It incorporates new sections to existing first-edition chapters, and it includes several new ones. Chapters 4, 6, 11, 15 and 16 are new, added in this edition. The first edition of the book grew out of an undergraduate welfare economics course at Brown University. The book is intended for the undergraduate student who has some prior familiarity with microeconomics. However, the book is also useful for graduate students and professionals, economists and non-economists, who want an overview of welfare and social choice results unburdened by detail and mathematical complexity. Welfare economics and social choice both probably suffer from ex cessively technical treatments in professional journals and monographs.

Social Choice

Author : Paul E Johnson
Publisher : SAGE
ISBN 13 : 9780761914068
Total Pages : 124 pages
Book Rating : 4.9/5 (14 download)

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Book Synopsis Social Choice by : Paul E Johnson

Download or read book Social Choice written by Paul E Johnson and published by SAGE. This book was released on 1998-06-25 with total page 124 pages. Available in PDF, EPUB and Kindle. Book excerpt: 'Social Choice' is a comprehensive exploration of the key questions, concepts, terminology, methods and results of social choice theory.

The Theory of Social Choice

Author : Peter C. Fishburn
Publisher : Princeton University Press
ISBN 13 : 1400868335
Total Pages : 277 pages
Book Rating : 4.4/5 (8 download)

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Book Synopsis The Theory of Social Choice by : Peter C. Fishburn

Download or read book The Theory of Social Choice written by Peter C. Fishburn and published by Princeton University Press. This book was released on 2015-03-08 with total page 277 pages. Available in PDF, EPUB and Kindle. Book excerpt: One fundamental premise of democratic theory is that social policy, group choice, or collective action should be based on the preferences of the individuals in the society, group, or collective. Using the tools of formal mathematical analysis, Peter C. Fishburn explores and defines the conditions for social choice and methods for synthesizing individuals' preferences. This study is unique in its emphasis on social choice functions, the general position that individual indifference may not be transitive, and the use of certain mathematics such as linear algebra. The text is divided into three main parts: social choice between two alternatives, which examines a variety of majority-like functions; simple majority social choice, which focuses on social choice among many alternatives when two-element feasible subset choices are based on simple majority; and a general study of aspects and types of social choice functions for many alternatives. Originally published in 1973. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

Finance & Development, September 2014

Author : International Monetary Fund. External Relations Dept.
Publisher : International Monetary Fund
ISBN 13 : 1475566980
Total Pages : 60 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Finance & Development, September 2014 by : International Monetary Fund. External Relations Dept.

Download or read book Finance & Development, September 2014 written by International Monetary Fund. External Relations Dept. and published by International Monetary Fund. This book was released on 2014-08-25 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This chapter discusses various past and future aspects of the global economy. There has been a huge transformation of the global economy in the last several years. Articles on the future of energy in the global economy by Jeffrey Ball and on measuring inequality by Jonathan Ostry and Andrew Berg are also illustrated. Since the 2008 global crisis, global economists must change the way they look at the world.

A Refutation of Arrow's Theorem

Author : Howard DeLong
Publisher :
ISBN 13 :
Total Pages : 114 pages
Book Rating : 4.3/5 (91 download)

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Book Synopsis A Refutation of Arrow's Theorem by : Howard DeLong

Download or read book A Refutation of Arrow's Theorem written by Howard DeLong and published by . This book was released on 1991 with total page 114 pages. Available in PDF, EPUB and Kindle. Book excerpt: To find more information on Rowman & Littlefield titles, please visit us at www.rowmanlittlefield.com.

How Markets Fail

Author : Cassidy John
Publisher : Penguin UK
ISBN 13 : 0141939427
Total Pages : 485 pages
Book Rating : 4.1/5 (419 download)

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Book Synopsis How Markets Fail by : Cassidy John

Download or read book How Markets Fail written by Cassidy John and published by Penguin UK. This book was released on 2013-01-31 with total page 485 pages. Available in PDF, EPUB and Kindle. Book excerpt: How did we get to where we are? John Cassidy shows that the roots of our most recent financial failure lie not with individuals, but with an idea - the idea that markets are inherently rational. He gives us the big picture behind the financial headlines, tracing the rise and fall of free market ideology from Adam Smith to Milton Friedman and Alan Greenspan. Full of wit, sense and, above all, a deeper understanding, How Markets Fail argues for the end of 'utopian' economics, and the beginning of a pragmatic, reality-based way of thinking. A very good history of economic thought Economist How Markets Fail offers a brilliant intellectual framework . . . fine work New York Times An essential, grittily intellectual, yet compelling guide to the financial debacle of 2009 Geordie Greig, Evening Standard A powerful argument . . . Cassidy makes a compelling case that a return to hands-off economics would be a disaster BusinessWeek This book is a well constructed, thoughtful and cogent account of how capitalism evolved to its current form Telegraph Books of the Year recommendation John Cassidy ... describe[s] that mix of insight and madness that brought the world's system to its knees FT, Book of the Year recommendation Anyone who enjoys a good read can safely embark on this tour with Cassidy as their guide . . . Like his colleague Malcolm Gladwell [at the New Yorker], Cassidy is able to lead us with beguiling lucidity through unfamiliar territory New Statesman John Cassidy has covered economics and finance at The New Yorker magazine since 1995, writing on topics ranging from Alan Greenspan to the Iraqi oil industry and English journalism. He is also now a Contributing Editor at Portfolio where he writes the monthly Economics column. Two of his articles have been nominated for National Magazine Awards: an essay on Karl Marx, which appeared in October, 1997, and an account of the death of the British weapons scientist David Kelly, which was published in December, 2003. He has previously written for Sunday Times in as well as the New York Post, where he edited the Business section and then served as the deputy editor. In 2002, Cassidy published his first book, Dot.Con. He lives in New York.

Coalition Formation and Social Choice

Author : Ad M.A. Van Deemen
Publisher : Springer Science & Business Media
ISBN 13 : 1475725787
Total Pages : 248 pages
Book Rating : 4.4/5 (757 download)

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Book Synopsis Coalition Formation and Social Choice by : Ad M.A. Van Deemen

Download or read book Coalition Formation and Social Choice written by Ad M.A. Van Deemen and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: Coalition Formation and Social Choice provides a unified and comprehensive study of coalition formation and collective decision-making in committees. It discusses the main existing theories including the size principle, conflict of interest theory, dominant player theory, policy distance theory and power excess theory. In addition, the book offers new theories of coalition formation in which the endogenous formation of preferences for coalitions is basic. Both simple game theory and social choice theory are extensively applied in the treatment of the theories. This combined application not only leads to new theories but also offers a new and fresh perspective on coalition formation and collective decision-making in committees. The book covers the fundamental concepts and results of social choice theory including Arrow's Impossibility Theorem. Furthermore, it gives a coherent treatment of the theory of simple games. Besides more traditional topics in simple game theory like power indices, it also introduces new aspects of simple games such as the Chow parameter, the Chow vector and the notion of similar games.

Social Choice Theory

Author : Jerry S. Kelly
Publisher : Springer Science & Business Media
ISBN 13 : 366209925X
Total Pages : 174 pages
Book Rating : 4.6/5 (62 download)

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Book Synopsis Social Choice Theory by : Jerry S. Kelly

Download or read book Social Choice Theory written by Jerry S. Kelly and published by Springer Science & Business Media. This book was released on 2013-03-09 with total page 174 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a textbook introducing selected topics in formal social choice theory. Social choice theory studies group choices that are based on information about preferences of members of the group (voting rules being one important special case). This involves economics, which provides the method of modelling individual decision making; political philosophy, which provides criteria about the allocation of decision-influencing power; and game theory, which provides a framework for thinking about the strategies individuals employ in trying to influence the group choice. The goal of this book is to take basic ideas like impossibility theorems, rights exercising and strategy proofness and give the student just enough technical background to be able to understand these ideas in a logically rigorous way. This is done through a set of 250 exercises that constitute the heart of the book and which differentiate this book from all other texts in social choice theory.

Numbers Rule

Author : George Szpiro
Publisher : Princeton University Press
ISBN 13 : 0691209081
Total Pages : 240 pages
Book Rating : 4.6/5 (912 download)

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Book Synopsis Numbers Rule by : George Szpiro

Download or read book Numbers Rule written by George Szpiro and published by Princeton University Press. This book was released on 2020-11-03 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: The author takes the general reader on a tour of the mathematical puzzles and paradoxes inherent in voting systems, such as the Alabama Paradox, in which an increase in the number of seats in the Congress could actually lead to a reduced number of representatives for a state, and the Condorcet Paradox, which demonstrates that the winner of elections featuring more than two candidates does not necessarily reflect majority preferences. Szpiro takes a roughly chronological approach to the topic, traveling from ancient Greece to the present and, in addition to offering explanations of the various mathematical conundrums of elections and voting, also offers biographical details on the mathematicians and other thinkers who thought about them, including Plato, Pliny the Younger, Pierre Simon Laplace, Thomas Jefferson, John von Neumann, and Kenneth Arrow.

Social Choice and the Mathematics of Manipulation

Author : Alan D. Taylor
Publisher : Cambridge University Press
ISBN 13 : 0521810523
Total Pages : 191 pages
Book Rating : 4.5/5 (218 download)

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Book Synopsis Social Choice and the Mathematics of Manipulation by : Alan D. Taylor

Download or read book Social Choice and the Mathematics of Manipulation written by Alan D. Taylor and published by Cambridge University Press. This book was released on 2005-05-09 with total page 191 pages. Available in PDF, EPUB and Kindle. Book excerpt: Honesty in voting, it turns out, is not always the best policy. Indeed, in the early 1970s, Allan Gibbard and Mark Satterthwaite, building on the seminal work of Nobel laureate Kenneth Arrow, proved that with three or more alternatives there is no reasonable voting system that is non-manipulable; voters will always have an opportunity to benefit by submitting a disingenuous ballot. The ensuing decades produced a number of theorems of striking mathematical naturality that dealt with the manipulability of voting systems. This 2005 book presents many of these results from the last quarter of the twentieth century, especially the contributions of economists and philosophers, from a mathematical point of view, with many new proofs. The presentation is almost completely self-contained, and requires no prerequisites except a willingness to follow rigorous mathematical arguments. Mathematics students, as well as mathematicians, political scientists, economists and philosophers will learn why it is impossible to devise a completely unmanipulable voting system.

Hegel, Marx and Vygotsky

Author : Andy Blunden
Publisher : BRILL
ISBN 13 : 9004470972
Total Pages : 449 pages
Book Rating : 4.0/5 (44 download)

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Book Synopsis Hegel, Marx and Vygotsky by : Andy Blunden

Download or read book Hegel, Marx and Vygotsky written by Andy Blunden and published by BRILL. This book was released on 2021-11-08 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: Andy Blunden’s Hegel Marx & Vygotsky, Essays in Social Philosophy uses a series of essays to demonstrate how the cultural psychology of Lev Vygotsky and the Soviet Activity Theorists can be used to renew Hegelian Marxism as an interdisciplinary science.

Majority Judgment

Author : Michel Balinski
Publisher : MIT Press
ISBN 13 : 0262545713
Total Pages : 431 pages
Book Rating : 4.2/5 (625 download)

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Book Synopsis Majority Judgment by : Michel Balinski

Download or read book Majority Judgment written by Michel Balinski and published by MIT Press. This book was released on 2022-06-07 with total page 431 pages. Available in PDF, EPUB and Kindle. Book excerpt: An account of a new theory and method of voting, judging and ranking, majority judgment, shown to be superior to all other known methods. In Majority Judgment, Michel Balinski and Rida Laraki argue that the traditional theory of social choice offers no acceptable solution to the problems of how to elect, to judge, or to rank. They find that the traditional model—transforming the "preference lists" of individuals into a "preference list" of society—is fundamentally flawed in both theory and practice. Balinski and Laraki propose a more realistic model. It leads to an entirely new theory and method—majority judgment—proven superior to all known methods. It is at once meaningful, resists strategic manipulation, elicits honesty, and is not subject to the classical paradoxes encountered in practice, notably Condorcet's and Arrow's. They offer theoretical, practical, and experimental evidence—from national elections to figure skating competitions—to support their arguments. Drawing on insights from wine, sports, music, and other competitions, Balinski and Laraki argue that the question should not be how to transform many individual rankings into a single collective ranking, but rather, after defining a common language of grades to measure merit, how to transform the many individual evaluations of each competitor into a single collective evaluation of all competitors. The crux of the matter is a new model in which the traditional paradigm—to compare—is replaced by a new paradigm—to evaluate.

Decisions and Elections

Author : Donald Saari
Publisher : Cambridge University Press
ISBN 13 : 9780521004046
Total Pages : 258 pages
Book Rating : 4.0/5 (4 download)

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Book Synopsis Decisions and Elections by : Donald Saari

Download or read book Decisions and Elections written by Donald Saari and published by Cambridge University Press. This book was released on 2001-10-22 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: It is not uncommon to be frustrated by the outcome of an election or a decision in voting, law, economics, engineering, and other fields. Does this 'bad' result reflect poor data or poorly informed voters? Or does the disturbing conclusion reflect the choice of the decision/election procedure? Nobel Laureate Kenneth Arrow's famed theorem has been interpreted to mean 'no decision procedure is without flaws'. Similarly, Nobel Laureate Amartya Sen dashes hope for individual liberties by showing their incompatibility with societal needs. This highly accessible book offers a new, different interpretation and resolution of Arrow's and Sen's theorems. Using simple mathematics, it shows that these negative conclusions arise because, in each case, some of their assumptions negate other crucial assumptions. Once this is understood, not only do the conclusions become expected, but a wide class of other phenomena can also be anticipated.