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Social Choice Theory and the Informational Basis Approach.

Abstract:

For over a quarter of a century, the use of utility information based upon interpersonal comparisons has been seen as an escape route from the Arrow Impossibility Theorem. This paper critically examines this informational basis approach to social choice. Even with comparability of differences and levels, feasible social choice rules must be insensitive to a range of distributional issues. Also, the Pareto principle is not solely to blame for the inability to adopt rules combining utility and ...

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Volume:
247
Series:
Discussion paper series
Publication date:
2005-01-01
URN:
uuid:f918fc4a-6f23-48e4-9875-7ec8ddd34c6e
Local pid:
ora:1286
Language:
English

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