Essays on individual decision-making and social welfare

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Essays on individual decision-making and social welfare

Prasanta K. Pattanaik

Oxford University Press, 2009

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Includes bibliographical references and index

Description and Table of Contents

Description

These essays by eminent economist Prasanta K. Pattanaik deal with two distinct areas. (i) the theory of decision making by individuals; and (ii) welfare economics and the theory of social choice. The papers in the first group are all concerned with situations outside the conventional frameworks of rational choice under perfect certainty and uncertainty. Essays in the second group are concerned with the classical problem of aggregation of preferences and welfare judgments. Some deal with the formal modeling of individual rights, and the measurement of freedom - concluding with measurement of living standards. The volume will be useful to researchers and students of welfare economics. Besides economists, students and teachers of psychology, political science, and philosophy will also find them of interest.

Table of Contents

  • Part 1. Individual Preferences and Choice. Chapter 1: On Choosing Rationality when Preferences are Fuzzy
  • Chapter 2: Soft Sets: An Ordinal Formulation with some Application to the Theory of Choice
  • Chapter 3: Falmagne and the Rationalization of Stochastic Choices in Terms of Random Orderings
  • Chapter 4: Stochastic Revealed Preferences and the Theory of Demand
  • Chapter 5: A General Revealed Preference Theory of Stochastic Demand
  • Chapter 6: Decision making Under completeUncertainty
  • Chapter 7: An Axiomatic Characterization of the Lexicographic maximin extension of an ordering over a set to the Power Set
  • Chapter 8: Median based extension of an ordering over a set to the Power Set: An Axiomatic Characterization
  • Part 2. Welfare Economics. Chapter 9: Little and Bergson on ArrowsConcept to Social Welfare
  • Chapter 10: Necessary and Sufficient Conditions for rational Choice under Majority Decision
  • Chapter 11: Distribution of Power Under Stochastic Social Choice Rules
  • Chapter 12: Risk Impersonality and the Social Welfare Function
  • Chapter 13: Individual Rights Revisited
  • Chapter 14: Game forms, Rights, and the Efficiency of Social Outcomes
  • Chapter 15: Individual Rights and Social Evaluation
  • Chapter 16: On ranking Opportunity Sets in Terms of Freedom of Choice
  • Chapter17: On Preferences and Freedom
  • Chapter 18: Minimal Relativism, Dominance and Standard of Living Comparisons Based on Functioning
  • Chapter 19: On Measuring Deprivation and the Standard of Living in a Multidimensional framework on the basis of aggregate data.

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