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We provide a generalization of Harsanyi (1955)'s aggregation theorem to the case of incomplete preferences at the individual and social level. Individuals and society have possibly incomplete expected utility preferences that are represented by sets of expected utility functions. Under Pareto...
Persistent link: https://www.econbiz.de/10011025731
Tribute to Jean-Yves Jaffray by the French Group of Decision Theory
Persistent link: https://www.econbiz.de/10011025767
We provide a generalization of Harsanyi (1995)'s aggregation theorem to the case of incomplete preferences at the individual and social level. Individuals and society have possibly incomplete expected utility preferences that are represented by sets of expected utility functions. Under Pareto...
Persistent link: https://www.econbiz.de/10011026030
Tribute to Jean-Yves Jaffray by the French Group of Decision Theory
Persistent link: https://www.econbiz.de/10009647522
We develop an axiomatic approach to decision under uncertainty that explicitly takes into account the information available to the decision maker. The information is described by a set of priors and a reference prior. We define a notion of imprecision for this informational setting and show that...
Persistent link: https://www.econbiz.de/10008794921
We provide a general theorem on the aggregation of preferences under uncertainty. We study, in the Anscombe-Aumann setting a wide class of preferences, that includes most known models of decision under uncertainty (and state-dependent versions of these models). We prove that aggregation is...
Persistent link: https://www.econbiz.de/10008794942
Ever since its introduction by Foley [1967] and Varian [1974], the notion of fairness has been one of the most extensively used notion to evaluate allocations on an ethical basis. Whereas there is an extensive literature on the efficiency properties of allocations in economies with uncertainty...
Persistent link: https://www.econbiz.de/10008795013
We show that, in a two-period economy with uncertainty in the second period, if an allocation is Pareto optimal for a given set of beliefs and remains optimal when these beliefs are changed, then the set of optimal allocations of the two economies must actually coincide. We identify equivalence...
Persistent link: https://www.econbiz.de/10008795036
Most prominent models of economic justice (and especially those proposed by Harsanyi and Rawls) are based on the assumption that impartiality is required for making moral decisions. However, although Harsanyi and Rawls agree on that, and furthermore agree on the fact that impartiality can be...
Persistent link: https://www.econbiz.de/10008795082
La recherche d'une mesure objective des inégalités, sur le modèle des mesures des grandeurs physiques est vaine : la mesure des inégalités dépend, en effet, de l'opinion des membres de la société en matière de justice distributive. Il est donc souhaitable que les opinions qui...
Persistent link: https://www.econbiz.de/10008795133