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Unformatted text preview: duce a complete preference relation. An alternative concept, called Social Choice ±unction, attaches a social alternative, in-terpreted as the society’s choice, to every proFle of preference relations. 4. An SW± aggregates only ordinal preference relations. The framework does not allow us to make a statement such as “the society prefers a to b since agent 1 prefers b to a but agent 2 prefers a to b much more.” 5. In this model we cannot express a consideration of the type “I prefer what society prefers.” 6. The elements in X are social alternatives. Thus, an individual’s preferences may exhibit considerations of fairness and concern about other individuals’ well-being. Examples Let us consider some examples of aggregation procedures. We will often use % as a short form of F ( Â 1 , . . . , Â n ) ....
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This note was uploaded on 12/29/2011 for the course ECO 443 taught by Professor Aswa during the Fall '10 term at SUNY Stony Brook.
- Fall '10