The voting paradox ... with a single voter? Implications for transitivity in choice under risk

Loading...
Thumbnail Image
File version
Author(s)
Butler, David
Blavatskyy, Pavlo
Griffith University Author(s)
Primary Supervisor
Other Supervisors
Editor(s)
Date
2020
Size
File type(s)
Location
License
Abstract

The voting paradox occurs when a democratic society seeking to aggregate individual preferences into a social preference reaches an intransitive ordering. However it is not widely known that the paradox may also manifest for an individual aggregating over attributes of risky objects to form a preference over those objects. When this occurs, the relation 'stochastically greater than' is not always transitive and so transitivity need not hold between those objects. We discuss the impact of other decision paradoxes to address a series of philosophical and economic arguments against intransitive (cyclical) choice, before concluding that intransitive choices can be justified.

Journal Title

Economics and Philosophy

Conference Title
Book Title
Edition
Volume
Issue
Thesis Type
Degree Program
School
Publisher link
Patent number
Funder(s)
Grant identifier(s)
Rights Statement
Rights Statement

© 2019 Cambridge University Press. This is the author-manuscript version of this paper. Reproduced in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.

Item Access Status
Note
Access the data
Related item(s)
Subject

Political theory and political philosophy

Decision theory

Microeconomic theory

Economic theory

Philosophy

Persistent link to this record
Citation
Collections