Handbook of Social Choice and Welfare

Handbook of Social Choice and Welfare

by Kenneth J. Arrow
     
 

ISBN-10: 0444829148

ISBN-13: 9780444829146

Pub. Date: 08/01/2002

Publisher: Elsevier Science

The Handbook of Social Choice and Welfare presents, in two volumes, essays on past and on-going work in social choice theory and welfare economics. The first volume consists of four parts. In Part 1 (Arrovian Impossibility Theorems), various aspects of Arrovian general impossibility theorems, illustrated by the simple majority cycle first identified by Condorcet,

Overview

The Handbook of Social Choice and Welfare presents, in two volumes, essays on past and on-going work in social choice theory and welfare economics. The first volume consists of four parts. In Part 1 (Arrovian Impossibility Theorems), various aspects of Arrovian general impossibility theorems, illustrated by the simple majority cycle first identified by Condorcet, are expounded and evaluated. It also provides a critical survey of the work on different escape routes from impossibility results of this kind. In Part 2 (Voting Schemes and Mechanisms), the operation and performance of voting schemes and cost-sharing mechanisms are examined axiomatically, and some aspects of the modern theory of incentives and mechanism design are expounded and surveyed. In Part 3 (structure of social choice rules), the positional rules of collective decision-making (the origin of which can be traced back to a seminal proposal by Borda), the game-theoretic aspects of voting in committees, and the implications of making use of interpersonal comparisons of welfare (with or without cardinal measurability) are expounded, and the status of utilitarianism as a theory of justice is critically examined. It also provides an analytical survey of the foundations of measurement of inequality and poverty. In order to place these broad issues (as well as further issues to be discussed in the second volume of the Handbook) in perspective, Kotaro Suzumura has written an extensive introduction, discussing the historical background of social choice theory, the vistas opened by Arrow's Social Choice and Individual Values, the famous "socialist planning" controversy, and the theoretical and practical significance of social choice theory. The primary purpose of this Handbook is to provide an accessible introduction to the current state of the art in social choice theory and welfare economics. The expounded theory has a strong and constructive message for pursuing human well-being and facilitating collective decision-making.

• Advances economists’ understanding of recent advances in social choice and welfare

• Distills and applies research to a wide range of social issues

• Provides analytical material for evaluating new scholarship

• Offers consolidated reviews and analyses of scholarship in a framework that encourages synthesis.

Product Details

ISBN-13:
9780444829146
Publisher:
Elsevier Science
Publication date:
08/01/2002
Series:
Handbooks in Economics Series
Edition description:
New Edition
Pages:
684
Product dimensions:
1.50(w) x 6.14(h) x 9.21(d)

Table of Contents

Preface to Volume 1 (K. Arrow, A. Sen, K. Suzumura). Introduction (K. Suzumura). Part 1. Arrovian Impossibility Theorems. 1. Impossibility theorems in the Arrovian framework (D. Campbell, J. Kelly). 2. Categories of Arrovian voting schemes (F. Aleskerov). 3. Domain restrictions (W. Gaertner). Part 2. Voting Schemes and Mechanisms. 4. Voting procedures (S. Brams, P. Fishburn). 5. Implementation theory (E. Maskin, T. Sjöström). 6. Axiomatic cost and surplus-sharing (H. Moulin). Part 3. Structure of Social Choice Rules. 7. Positional rules of collective decision-making (P. Pattanaik). 8. Game-Theoretic Analysis of voting in committees (B. Peleg). 9. Representative democracy and social choice theory (N. Schofield). Part 4. Welfare, Justice and Poverty. 10. Social welfare functionals and interpersonal comparability (C. d'Aspremont, L. Gevers). 11. Utilitarianism and the theory of justice (C. Blackorby, W. Bossert, D. Donaldson). 12. Inequality, poverty and welfare (B. Dutta).

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