The Strategy Of Social Choice

Advanced Textbooks in Economics, Volume 18: The Strategy of Social Choice focuses on the social, economics, and political implications of social choice. The publication first surveys introduction, social choice functions and correspondences, and monotonicity and the arrow theorem. Discussions focus on efficiency, anonymity and neutrality, classifying voting methods, normative versus positive approach to voting, voting and the non-strategic theory of social choice, and development of the strategic theory of voting. The text then ponders on strategy-proofness and monotonicity and sophisticated voting. Topics include sophisticated implementation, voting by binary choices, strategy-proof social choice functions and game forms, Gibbard-Satterthwaite theorem, and restricted domains. The manuscript examines cooperative voting and voting by veto, including the minority principle, proportional veto core, voting by integer veto, effectivity functions, maximal and stable effectivity functions, and implementation by Nash equilibrium. The text is a dependable source of data for researchers interested in the process of social choice.

This is a textbook introducing selected topics in formal social choice theory. Social choice theory studies group choices that are based on information about preferences of members of the group (voting rules being one important special case). This involves economics, which provides the method of modelling individual decision making; political philosophy, which provides criteria about the allocation of decision-influencing power; and game theory, which provides a framework for thinking about the strategies individuals employ in trying to influence the group choice. The goal of this book is to take basic ideas like impossibility theorems, rights exercising and strategy proofness and give the student just enough technical background to be able to understand these ideas in a logically rigorous way. This is done through a set of 250 exercises that constitute the heart of the book and which differentiate this book from all other texts in social choice theory.

Originally published in 1951, "Social Choice and Individual Values" introduced "Arrow's Impossibility Theorem" and founded the field of social choice theory in economics and political science. This new edition, including a new foreword by Nobel laureate Eric Maskin, reintroduces Arrow's seminal book to a new generation of students and researchers."Far beyond a classic, this small book unleashed the ongoing explosion of interest in social choice and voting theory. A half-century later, the book remains full of profound insight: its central message, 'Arrow's Theorem, ' has changed the way we think."--Donald G. Saari, author of "Decisions and Elections: Explaining the Unexpected "

This second part of a two-volume set continues to describe economists' efforts to quantify the social decisions people necessarily make and the philosophies that those choices define. Contributors draw on lessons from philosophy, history, and other disciplines, but they ultimately use editor Kenneth Arrow's seminal work on social choice as a jumping-off point for discussing ways to incentivize, punish, and distribute goods. Develops many subjects from Volume 1 (2002) while introducing new themes in welfare economics and social choice theory Features four sections: Foundations, Developments of the Basic Arrovian Schemes, Fairness and Rights, and Voting and Manipulation Appeals to readers who seek introductions to writings on human well-being and collective decision-making Presents a spectrum of material, from initial insights and basic functions to important variations on basic schemes

The theory of social choice deals with both the processes and results of col lective decision making. In this book, we explore some issues in the theory of social choice and mechanism design. We examine the premises of this theory, the axiomatic approach, and the mechanism design approach. The main questions are what is collective interest, how is it related to individuals' interests, how should one design social interactions, laws, and in stitutions? These questions are not new. Philosophers, social scientists have indeed pondered upon them for years. And, in fact, the organizational struc tures of many social institutions -courts, parliaments, committees and reg ulatory boards -often lack a sound theoretical base. This is not surprising, as it is, indeed, difficult to provide for a comprehensive formalization of the activities of such organizations. Nevertheless, there has been a definite trend towards providing clear and unambiguous rules for collective decision mak ing. These very rules constitute the body of social choice theory and its main object. The basic problem of social choice We explain here more precisely what a problem of social choice is, what approaches might be used to tackle it, and what kind of solutions it leads to. We introduce a few basic notions in preliminarily fashion and, in doing so, we stress both motivations and explanations.

First published in 1971, Social Choice is both a text and reference containing the proceedings of a conference dealing with contemporary work on the normative and descriptive aspects of the social choice problem. This reissue will be of interest to advanced undergraduate and graduate courses on group decision making and social choice. Economists, social psychologists, political scientists and sociologists will welcome this valuable work.

This book covers the main topics of welfare economics — general equilibrium models of exchange and production, Pareto optimality, un certainty, externalities and public goods — and some of the major topics of social choice theory — compensation criteria, fairness, voting. Arrow's Theorem, and the theory of implementation. The underlying question is this: "Is a particular economic or voting mechanism good or bad for society?" Welfare economics is mainly about whether the market mechanism is good or bad; social choice is largely about whether voting mechanisms, or other more abstract mechanisms, can improve upon the results of the market. This second edition updates the material of the first, written by Allan Feldman. It incorporates new sections to existing first-edition chapters, and it includes several new ones. Chapters 4, 6, 11, 15 and 16 are new, added in this edition. The first edition of the book grew out of an undergraduate welfare economics course at Brown University. The book is intended for the undergraduate student who has some prior familiarity with microeconomics. However, the book is also useful for graduate students and professionals, economists and non-economists, who want an overview of welfare and social choice results unburdened by detail and mathematical complexity. Welfare economics and social choice both probably suffer from ex cessively technical treatments in professional journals and monographs.

This volume comprises papers presented at the Symposium on Collective Choice, by leading experts in this field. It presents recent advances in Social Choice Theory and Welfare Economics. The papers are classified in two broad groups: (1) those dealing with the ethical aspects of the theory of social choice and (2) those concerned with the positive aspects. The papers in the first part are concerned with the Arrow-type aggregation problem or aspects of it and with more specific questions relating to optimality, justice and welfare. In part II several papers discuss the problem of strategic misrevelation of preferences by individuals, others discuss simple voting games, social choice-correspondences and electoral competition. The main features are: - Recent advances in social choice theory and welfare economics - New mathematical approaches to social choice theory (differential and algebraic topology) -New aspects of the concepts of justice and optimality in welfare economics and social choice.