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Aggregating Local Preferences to Guide Marginal Policy Adjustments / Daniel J. Benjamin, Ori Heffetz, Miles S. Kimball, Nichole Szembrot.
- Format:
- Book
- Author/Creator:
- Benjamin, Daniel J.
- Series:
- Working Paper Series (National Bureau of Economic Research) no. w18787.
- NBER working paper series no. w18787
- Language:
- English
- Physical Description:
- 1 online resource: illustrations (black and white);
- Place of Publication:
- Cambridge, Mass. National Bureau of Economic Research 2013.
- Summary:
- We propose a social choice rule for aggregating preferences elicited from surveys into a marginal adjustment of policy from the status quo. The mechanism is: (i) symmetric in its treatment of survey respondents; (ii) ordinal, using only the orientation of respondents' indifference surfaces; (iii) local, using only preferences in the neighborhood of current policy; and (iv) what we call "first-order strategy-proof," making the gains from misreporting preferences second order. The mechanism could be applied to guide policy based on how policy affects responses to subjective well-being surveys.
- Notes:
- Print version record
- February 2013.
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