Aggregation of Paretian preferences for independent individual uncertainties
Antoine Billot
(1, 2, 3)
,
Vassili Vergopoulos
(4, 3)
Antoine Billot
- Fonction : Auteur
- PersonId : 856357
- ORCID : 0000-0001-7929-781X
- IdRef : 035554630
Vassili Vergopoulos
- Fonction : Auteur
- PersonId : 10489
- IdHAL : vassili-vergopoulos
- IdRef : 244992347
Résumé
This paper considers situations of social choice where the resolution of the uncertainty affecting each individual is independent of the resolution of the uncertainty affecting all other individuals. Individuals as well as society itself have Subjective Expected Utility preferences, and society conforms to a set of Pareto-like requirements. In this case, the social utility function must be a convex combination of individual utility functions, thereby extending the logic of Harsanyi’s (JPE 63:309–321, 1955) seminal aggregation theorem. Moreover, the social probabilistic beliefs must be the independent product of individual probabilistic beliefs
Format du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Aggregation of Paretian preferences for independent individual uncertainties
|
Résumé |
en
This paper considers situations of social choice where the resolution of the uncertainty affecting each individual is independent of the resolution of the uncertainty affecting all other individuals. Individuals as well as society itself have Subjective Expected Utility preferences, and society conforms to a set of Pareto-like requirements. In this case, the social utility function must be a convex combination of individual utility functions, thereby extending the logic of Harsanyi’s (JPE 63:309–321, 1955) seminal aggregation theorem. Moreover, the social probabilistic beliefs must be the independent product of individual probabilistic beliefs
|
Auteur(s) |
Antoine Billot
1, 2, 3
, Vassili Vergopoulos
4, 3
1
LEMMA -
Laboratoire d'économie mathématique et de microéconomie appliquée
( 219652 )
- Université Paris 2, LEMMA 4 rue Blaise Desgoffe 75006 Paris
- France
2
PSE -
Paris-Jourdan Sciences Economiques
( 139754 )
- 48 boulevard Jourdan 75014 Paris
- France
3
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
4
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Date de publication |
2016
|
Date de publication électronique |
2016-10-24
|
Page/Identifiant |
1-12
|
URL éditeur |
http://www.link.springer.com/article/10.1007/s00355-016-1001-0
|
Domaine(s) |
|
Projet(s) ANR |
|
Mots-clés |
en
Utilitarianism, Prior heterogeneity, Pareto condition, Bayesianism
|
DOI | 10.1007/s00355-016-1001-0 |
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