Robust Social Decisions
Journal article: We propose and operationalize normative principles to guide social decisions when individuals potentially have imprecise and heterogeneous beliefs, in addition to conflicting tastes or interests. To do so we adapt the standard Pareto principle to those preference comparisons that are robust to belief imprecision and characterize social preferences that respect this robust principle. We also characterize a suitable restriction of this principle. The former principle provides stronger guidance when it can be satisfied; when it cannot, the latter always provides minimal guidance.
Author(s)
Eric Danan, Thibault Gajdos, Brian Hill, Jean-Marc Tallon
Journal
- American Economic Review
Date of publication
- 2016
Keywords JEL
Keywords
- Associations
- Criteria for Decision-Making under Risk and Uncertainty
- Unambiguous preferences
- Pareto dominance
- Preference aggregation
- D81
- JEL Classification D71
- Uncertainty
- Social choice
Pages
- 2407 – 2425
URL of the HAL notice
Version
- 1
Volume
- 106