Aggregation of Monotonic Bernoullian Archimedean preferences: Arrovian impossibility results

Herzberg F (2013) Center for Mathematical Economics Working Papers; 488.
Bielefeld: Center for Mathematical Economics.

Diskussionspapier | Veröffentlicht | Englisch
 
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Abstract / Bemerkung
Cerreia-Vioglio, Ghirardato, Maccheroni, Marinacci and Siniscalchi (Economic Theory, 48:341–375, 2011) have recently proposed a very general axiomatisation of preferences in the presence of ambiguity, viz. Monotonic Bernoullian Archimedean (MBA) preference orderings. This paper investigates the problem of Arrovian aggregation of such preferences — and proves dictatorial impossibility results for both finite and infinite populations. Applications for the special case of aggregating expected-utility preferences are given. A novel proof methodology for special aggregation problems, based on model theory (in the sense of mathematical logic), is employed.
Stichworte
impossibility result; Arrow’s theorem; ultrafilter; Arrovian social choice; Knightian uncertainty; expectedutility; ambiguity; Monotonic Bernoullian Archimedean (MBA) preferences; ultraproduct
Erscheinungsjahr
2013
Band
488
ISSN
0931-6558
Page URI
https://pub.uni-bielefeld.de/record/2675233

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Herzberg F. Aggregation of Monotonic Bernoullian Archimedean preferences: Arrovian impossibility results. Center for Mathematical Economics Working Papers. Vol 488. Bielefeld: Center for Mathematical Economics; 2013.
Herzberg, F. (2013). Aggregation of Monotonic Bernoullian Archimedean preferences: Arrovian impossibility results (Center for Mathematical Economics Working Papers, 488). Bielefeld: Center for Mathematical Economics.
Herzberg, F. (2013). Aggregation of Monotonic Bernoullian Archimedean preferences: Arrovian impossibility results. Center for Mathematical Economics Working Papers, 488, Bielefeld: Center for Mathematical Economics.
Herzberg, F., 2013. Aggregation of Monotonic Bernoullian Archimedean preferences: Arrovian impossibility results, Center for Mathematical Economics Working Papers, no.488, Bielefeld: Center for Mathematical Economics.
F. Herzberg, Aggregation of Monotonic Bernoullian Archimedean preferences: Arrovian impossibility results, Center for Mathematical Economics Working Papers, vol. 488, Bielefeld: Center for Mathematical Economics, 2013.
Herzberg, F.: Aggregation of Monotonic Bernoullian Archimedean preferences: Arrovian impossibility results. Center for Mathematical Economics Working Papers, 488. Center for Mathematical Economics, Bielefeld (2013).
Herzberg, Frederik. Aggregation of Monotonic Bernoullian Archimedean preferences: Arrovian impossibility results. Bielefeld: Center for Mathematical Economics, 2013. Center for Mathematical Economics Working Papers. 488.
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2019-09-06T09:18:23Z
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