Chichilnisky, Graciela (1994): A robust theory of resource allocation. Published in: Social Choice and Welfare , Vol. 13, (2. May 1995): pp. 1-10.
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The theory of social choice introduced in [5,6] is robust; it is completely independent of the choice of topology on spaces of preference. This theory has been fruitful in linking diverse forms of resource allocation; it has been shown  that contractibility is necessary and sufficient for solving the social choice paradox; this condition is equivalent  to another- limited arbitrage- which is necessary and sufficient for the existence of a competitive equilibrium and the core of an economy [13, 14, 15, 16, 17]. The space of monotone preferences is contractible; as shown already in [6, 17] such that spaces admit social choice rules. However, monotone preferences are of little interest in social choice theory becasue the essence of the social choice problem, such as Condorcet triples, rules out monotonicity.
|Item Type:||MPRA Paper|
|Original Title:||A robust theory of resource allocation|
|Keywords:||social choice; resource allocation; monotonicity; preferences; Condorcet triples|
|Subjects:||D - Microeconomics > D7 - Analysis of Collective Decision-Making > D71 - Social Choice; Clubs; Committees; Associations
C - Mathematical and Quantitative Methods > C0 - General > C02 - Mathematical Methods
R - Urban, Rural, Regional, Real Estate, and Transportation Economics > R1 - General Regional Economics > R12 - Size and Spatial Distributions of Regional Economic Activity
|Depositing User:||Graciela Chichilnisky|
|Date Deposited:||06. May 2008 05:01|
|Last Modified:||16. Feb 2013 14:26|
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