To examine the consequences of allowing individual to violate full rationality in collective decision making, this article discusses the possibility of aggregating quasi-transitive preferences in the Arrovian framework. Quasi-transitive valued aggregating functions are discussed and characterised. A characterisation of the weak Pareto extension rule is also achieved as a corollary.
|Number of pages||8|
|Publication status||Published - 2014|
- Preference aggregation
- Veto power
- Weak pareto extension rule
ASJC Scopus subject areas
- Economics, Econometrics and Finance(all)