The ex-ante aggregation of opinions under uncertainty

Artikel

This paper presents an analysis of the problem of aggregating preference orderings under subjective uncertainty. Individual preferences, or opinions, agree on the ranking of risky prospects, but are quite general because we do not specify the perception of ambiguity or the attitude towards it. A convexity axiom for the ex-ante preference characterizes a (collective) decision rule that can be interpreted as a compromise between the utilitarian and the Rawlsian criteria. The former is characterized by the independence axiom as in Harsanyi (1955). Existing results are special cases of our representation theorems, which also allow us to interpret Segal's (1987) two-stage approach to ambiguity as the ex-ante aggregation of (Bayesian) future selves' opinions.

Angaben zum Objekt

• Sprache: Englisch

Verweise und Beziehungen

• Erschienen in: Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 7 ; Year: 2012 ; Issue: 3 ; Pages: 535-570 ; New Haven, CT: The Econometric Society

Klassifikation und Themen

• Klassifikation: Wirtschaft ; Analysis of Collective Decision-Making: General ; Criteria for Decision-Making under Risk and Uncertainty
• Thema: Aggregation of preferences ; uncertainty

Beteiligte, Orts- und Zeitangaben

• Ereignis: Geistige Schöpfung
• (wer): Nascimento, Leandro
• Ereignis: Veröffentlichung
• (wer): The Econometric Society
• (wo): New Haven, CT
• (wann): 2012

Weitere Informationen

• DOI: doi:10.3982/TE896
• Handle: http://hdl.handle.net/10419/150179
• Letzte Aktualisierung: 10.03.2025, 11:44 MEZ