PREFERENCE AGGREGATION WITH INCOMPLETE INFORMATION

• 成果类型: Article
• 署名作者: Chambers, Christopher P.; Hayashi, Takashi
• 署名单位: University of California System; University of California San Diego; University of Glasgow
• 刊物名称: ECONOMETRICA
• ISSN/ISSBN: 0012-9682
• DOI: 10.3982/ECTA11612
• 发表日期: 2014
• 页码: 589-599
• 关键词: beliefs; utility

摘要

We show in an environment of incomplete information that monotonicity and the Pareto property applied only when there is common knowledge of Pareto dominance imply (i) there must exist a common prior over the smallest common knowledge event, and (ii) aggregation must be ex ante and ex post utilitarian with respect to that common prior and individual von Neumann-Morgenstern utility indices.