Essays on individual decision-making and social welfare / Prasanta K. Pattanaik.

Format:

Book

Author/Creator:

Pattanaik, Prasanta K.

Language:

English

Subjects (All):

Decision making--Mathematical models.

Decision making.

Welfare economics--Mathematical models.

Welfare economics.

Physical Description:

xiii, 378 pages ; 24 cm

Place of Publication:

New Delhi ; New York : Oxford University Press, 2009.

Summary:

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.

Contents:

Introduction 1

Part 1 Non-Deterministic Preference and Choice

1 On Choosing Rationally When Preferences are Fuzzy / C. Richard Barrett, Prasanta K. Pattanaik, Maurice Salles 33

2 Soft Sets: An Ordinal Formulation of Vagueness with Some Applications to the Theory of Choice / Kaushik Basu, Rajat Deb, Prasanta K. Pattanaik 51

3 Falmagne and the Rationalizability of Stochastic Choices in Terms of Random Orderings / Salvador Barbera, Prasanta K. Pattanaik 71

4 Stochastic Revealed Preference and the Theory of Demand / Taradas Bandyopadhyay, Indraneel Dasgupta, Prasanta K. Pattanaik 83

5 A General Revealed Preference Theorem for Stochastic Demand Behaviour / Taradas Bandyopadhyay, Indraneel Dasgupta, Prasanta K. Pattanaik 97

Part 2 Choice Under Non-probabilistic Uncertrainty

6 Decision-Making Under Complete Uncertainty / C. Richard Barrett, Prasanta K. Pattanaik 111

7 An Axiomatic Characterization of the Lexicographic Maximin Extension of an Ordering Over a Set to the Power Set / Prasanta K. Pattanaik, Bezalel Peleg 126

8 Median-Based Extensions of an Ordering over a Set to the Power Set: An Axiomatic Characterization / Shmuel I. Nitzan, Prasanta K. Pattanaik 138

Part 3 Social Welfare and Aggregation of Preferences

9 Little and Bergson on Arrow's Concept of Social Welfare / Prasanta K. Pattanaik 151

10 Necessary and Sufficient Conditions for Rational Choice under Majority Decision / Amartya Sen, Prasanta K. Pattanaik 163

11 Distribution of Power Under Stochastic Social Choice Rules / Prasanta K. Pattanaik, Bezalel Peleg 186

12 Risk, Impersonality, and the Social Welfare Function / Prasanta K. Pattanaik 201

Part 4 Individual Rights and Freedom

13 Individual Rights Revisited / Wulf Gaertner, Prasanta K. Pattanaik, Kotaro Suzumura 221

14 Game Forms, Rights, and the Efficiency of Social Outcomes / Rajat Deb, Prasanta K. Pattanaik, Laura Razzolini 241

15 Individual Rights and Social Evaluation: A Conceptual Framework / Prasanta K. Pattanaik, Kotaro Suzumura 262

16 On Ranking Opportunity Sets in Terms of Freedom of Choice / Prasanta K. Pattanaik, Yongsheng Xu 283

17 On Preference and Freedom / Prasanta K. Pattanaik, Yongsheng Xu 291

Part 5 The Measurement of Deprivation and Living Standards in a Multi-Dimensional Framework

18 Minimal Relativism Dominance, and Standard of Living Comparisons Based on Functionings / Prasanta K. Pattanaik, Yongsheng Xu 315

19 On Measuring Deprivation and the Standard of Living in a Multi-Dimensional Framework on the Basis of Aggregate Data / Indranil Dutta, Prasanta K. Pattanaik, Yongsheng Xu 338.

Notes:

Includes bibliographical references and index.

ISBN:

9780195695960

0195695968

OCLC:

271771839

Online:

Contributor biographical information

Publisher description