447 research outputs found
A topological approach to the Arrow impossibility theorem when individual preferences are weak orders (forcoming in ``Applied Mathematics and Compuation''(Elsevier))
We will present a topological approach to the Arrow impossibility theorem of social choice theory that there exists no binary social choice rule (which we will call a social welfare function) which satisfies the conditions of transitivity, independence of irrelevant alternatives (IIA), Pareto principle and non-existence of dictator.
Statistical mechanics of voting
Decision procedures aggregating the preferences of multiple agents can
produce cycles and hence outcomes which have been described heuristically as
`chaotic'. We make this description precise by constructing an explicit
dynamical system from the agents' preferences and a voting rule. The dynamics
form a one dimensional statistical mechanics model; this suggests the use of
the topological entropy to quantify the complexity of the system. We formulate
natural political/social questions about the expected complexity of a voting
rule and degree of cohesion/diversity among agents in terms of random matrix
models---ensembles of statistical mechanics models---and compute quantitative
answers in some representative cases.Comment: 9 pages, plain TeX, 2 PostScript figures included with epsf.tex
(ignore the under/overfull \vbox error messages
Mathematical Economics: A Reader
This paper is modeled as a hypothetical first lecture in a graduate Microeconomics or Mathematical Economics Course. We start with a detailed scrutiny of the notion of a utility function to motivate and describe the common patterns across Mathematical concepts and results that are used by economists. In the process we arrive at a classification of mathematical terms which is used to state mathematical results in economics. The usefulness of the classification scheme is illustrated with the help of a discussion of fixed-point theorems and Arrow's impossibility theorem. Several appendices provide a step-wise description of some mathematical concepts often used by economists and a few useful results in microeconomics.Mathematics, Set theory, Utility function, Arrow's impossibility theorem
Anonymity in Large Societies
In a social choice model with an infinite number of agents, there may occur "equal size" coalitions that a preference aggregation rule should treat in the same manner. We introduce an axiom of equal treatment with respect to a measure of coalition size and explore its interaction with common axioms of social choice. We show that, provided the measure space is sufficiently rich in coalitions of the same measure, the new axiom is the natural extension of the concept of anonymity, and in particular plays a similar role in the characterization of preference aggregation rules.
Smallness of Invisible Dictators
Fishburn (1970) showed that in an infinite society Arrow's axioms for a preference aggregation rule do not necessarily imply a dictator. Kirman and Sondermann (1972) showed that, in this case, nondictatorial rules imply an invisible dictator that, whenever the agent set is an atomless finite measure space, can be viewed as the limit of coalitions of arbitrarily small size. We show first that, when admissible coalitions are restricted to an algebra, there are two sorts of invisible dictators. We next show that, in most cases of interest, we do not need to resort to measures on the agent space to give a precise meaning to the statement that invisible dictators are the limit of arbitrarily small decisive coalitions.Preference aggregation, Arrow´s Theorem, Invisible Dictators, Ultrafilter Property, Strict Neutrality
A Combinatorial Topology Approach to Arrow's Impossibility Theorem
Baryshnikov presented a remarkable algebraic topology proof of Arrow's impossibility theorem trying to understand the underlying reason behind the numerous proofs of this fundamental result of social choice theory.
We present here a novel combinatorial topology approach that does not use advance mathematics, while giving a geometric intuition of the impossibility. This exposes a remarkable connection with distributed computing techniques.
We show that Arrow's impossibility is closely related to the index lemma, and expose the geometry behind prior pivotal arguments to Arrow's impossibility.
We explain why the case of two voters, n=2, and three alternatives, |X|=3,
is where this interesting geometry happens, by giving a simple
proof that this case implies Arrow's impossibility
for any finite n>= 2,|X|>= 3. Finally, we show how to reason about domain restrictions using combinatorial topology
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Market Arbitrage, Social Choice and the Core
This paper establishes a clear connection between equilibrium theory, game theory and social choice theory by showing that, for a well defined social choice problem, a condition which is necessary and sufficient to solve this problem-limited arbitrage-is the same as the condition which is necessary and sufficient to establish the existence of a equilibrium and the core. The connection is strengthened by establishing that a market allocation, which is in the core, can always be realized as a social allocation, i.e. an allocation which is optimal according to an ordering chosen by a social choice rule. Limited arbitrage characterizes those economies without Condorcet triples, and those for which Arrow's paradox can be resolved on choices of large utility values
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