Open AccessEfficiency and Consistency in Group Decisions
Author(s) -
Tanmay Biswas
Publication year - 2012
Publication title -
review of economic analysis
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.101
H-Index - 1
ISSN - 1973-3909
DOI - 10.15353/rea.v4i1.1536
Subject(s) - consistency (knowledge bases) , group (periodic table) , axiom , context (archaeology) , set (abstract data type) , mathematical economics , value (mathematics) , normative , function (biology) , constraint (computer aided design) , mathematics , element (criminal law) , choice function , computer science , econometrics , statistics , discrete mathematics , epistemology , paleontology , philosophy , chemistry , geometry , organic chemistry , evolutionary biology , political science , law , biology , programming language
The paper introduces a concept of “efficiency set" in the context of group decisions and analyses its properties. If the set contains a single element, then the Borda rule finds it. Otherwise, the group needs a value function to choose from the efficient alternatives. Two value functions, with considerations for the number of participants who are badly affected by the choice, have been discussed. It turns out that the consistency axiom of group choice imposes a constraint, on the form of the value function, with questionable normative significance.