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PREFERENCE AGGREGATION WITH INCOMPLETE INFORMATION

delete2014-01-01
delete16
PRE
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C
Christopher P. Chambers *
T
Takashi Hayashi
DOI:10.3982/ECTA11612delete
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Abstract

Abstract

En 中文
We show in an environment of incomplete information that monotonicity and the Pareto property applied only when there is common knowledge of Pareto dominance imply (i) there must exist a common prior over the smallest common knowledge event, and (ii) aggregation must be ex ante and ex post utilitarian with respect to that common prior and individual von Neumann-Morgenstern utility indices.
Keywords:
Social choice
incomplete information
Harsanyi's theorem
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Key information extracted from the uploaded paper, including a brief overview, abstract, background, key highlights, visual analysis, and future outlook.

Journal

Econometrica cover
Econometrica
IF:
7.1
Papers:
3.0K
Citations:
4.3W

Organization

University of California System cover
University of California System
Scholars:
37.5W
Papers: 33.7W
Citations: 6.6K
U
University of California San Diego
Scholars:
4.6W
Papers: 3.5W
Citations: 924