By Ulrich U. Schmidt, Stefan Traub

This Festschrift in honor ofChristian Seidl combines a bunch of well-known authors who're specialists in components like public economics, welfare monetary, choice conception, and experimental economics in a special quantity. Christian Seidl who has edited including Salvador Barber` a ` and Peter Hammond the guide of software concept (appearing at Kluwer educational Publishers/Springer Economics), has devoted such a lot of his examine to software and choice concept, social selection concept, welfare economics, and public economics. over the last decade, he has grew to become a part of his realization to a learn instrument that's more and more gaining in significance in economics: the laboratory test. This quantity is an try and remove darkness from all features of Christian Seidl’s formidable learn time table by way of providing a suite of either theoretical and expe- psychological papers on Utility,Choice,andWelfare written by means of his closest pals, former scholars, and masses valued colleagues. Christian Seidl used to be born on August five, 1940, in Vienna, Austria. starting wintry weather time period 1962/63, he studied Economics and enterprise management on the Vienna university of Economics (then “Hochschule fff¨ ur ¨ Welthandel”). 1966 he was once presented an MBA through the Vienna university of Economics and 1969 a doctoral measure in Economics. In October 1968 Christian grew to become a learn assistant on the Institute of Economics on the college of Vienna. 1973 he bought his habilitation (right to educate) in Economics ― supervised through Wilhelm Weber ― from the dep. of legislations and Economics of the college of Vienna. He was once provided the Dr.

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Additional info for Advances in Public Economics: Utility, Choice and Welfare: A Festschrift for Christian Seidl

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Considering sets of feasible utility allocations as production possibility sets representing the possible jointly “producable” utility allocations and transformation rates as prices goes back to Shapley (cf. Shapley, 1969). See also Mayberry et al. (1953). The identity of the Walrasian equilibrium of a finite bargaining economy E S with the Nash solution of its underlying bargaining game S stresses the competitive feature of the Nash solution. Moreover the Nash solution’s coincidence with the Core of a large bargaining coalitional production economy with equal production possibilities for all agents reflects a different fairness aspect in addition to those represented by the axioms.

Section 9 asks a different but related question: what kinds of transformation preserve equilibrium not just in a single game, but an entire class of game forms with outcomes in a particular consequence domain? In the end, this extended form of invariance seems much more natural than invariance for a single game. In particular, most of game theory can be divided into one part that considers only pure strategies, in which case it is natural to regard individuals’ utilities as ordinal, and a second part that considers mixed strategies, in which case it is natural to regard individuals’ utilities as cardinal.

1. ARROW SOCIAL WELFARE FUNCTIONS Let R(X) denote the set of preference orderings on X. A preference profile is a mapping i → Ri from N to R(X) specifying the preference ordering of each individual i ∈ N . Let RN = Ri i∈N denote such a preference profile, and RN (X) the set of all possible preference profiles. Let D ⊂ RN (X) denote a domain of permissible preference profiles. A social choice → C(F, RN ) ⊂ F correspondence (or SCC) can be represented as a mapping (F, R N ) → from pairs in F(X) × D consisting of feasible sets and preference profiles to social choice sets.

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