Titlebook: Arrow and the Foundations of the Theory of Economic Policy; George R. Feiwel (Alumni Distinguished Service Pro Book 1987 George R. Feiwel

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Sparks from Arrow’s Anvilioms of consistency, transitivity, independence or irrelevant alternatives, and …). Specifically, he made reference to the pre-Rawls suggestions of William Vickrey (1945) and of John C. Harsanyi (1955) as providing related derivations of . interpersonal utilities by reliance on certain elements of extended sympathy.

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Arrow and the Problem of Social Choice voluminous literature on the preference aggregation problems has extensively utilized the uniform and abstract framework of the axiomatic social choice theory (basically due to Arrow’s (1951) seminal work) for analysing these essentially different problems.

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On the Fair Allocation of Indivisible Goodsa setting where some goods are indivisible. Hence, several hypotheses that are standard in equilibrium analysis are not satisfied. None the less, as we will see, the classic Arrow-Debreu techniques can be suitably modified to overcome this difficulty.

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Peak Pricing, Congestion, and Fairnesslution,. comparing it with uniformity of pricing in all periods — an issue that has disturbed observers outside our profession, but that economists have often ignored. We offer a number of surprising conclusions:

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The Tension Theory of Welfareo empirically specify individual welfare functions. These attempts are close to Levy and Guttman (1975) (which mentions Guttman’s previous work (1971)), and to van Praag (1971), which was followed by an impressive quantity of further empirical work by himself and his pupils.

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Arrow and the Foundations of the Theory of Economic Policy

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Social Choice: the Science of the Impossible?s moving toward anyway. Other workers in these fields have benefited enormously from the vast strides made by Arrow’s work, but they would probably have done similar things, perhaps considerably more slowly, even in his absence.