An Extension of Optimality Criteria
An Axiomatic Approach to Institutional Choice
Bibliographic Data
| ID | 10181771 |
|---|---|
| Authors | Blaine Roberts (corresponding author) |
| Year | 1973 |
| Volume | 81 |
| Issue | 2, Part 1 |
| Pages | 386-400 |
| Publication date | 1973-03-01 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0022-3808 • E-ISSN: 1537-534X |
| Publisher | University of Chicago Press (PUBLISHER • US) |
| DOI | 10.1086/260034 |
| OpenAlex | W1998935541 |
| Language | EN |
| Citations received | 5 |
| References cited | 9 |
An argument by Buchanan that the criterion of Pareto optimality is of little value when used solely with traditional economic variables is expanded and developed formally in an axiomatic framework of individual choice. Individual decisions are first aggregated to group decisions, and then group decisions are aggregated to give social decisions. Social decisions are compared with the Pareto-optimal conditions for social choice. Finally, there is a short discussion of the implications for the study of social choice and institutional change
Argument (complex analysis · Axiom · Axiomatic system · Econometrics · Economics · Extension (predicate logic · Group (periodic table · Mathematical economics · Mathematical optimization · Microeconomics · Multi-objective optimization · Operations management · Pareto optimal · Pareto principle · Social choice theory · Statistics · Value (mathematics · Computer Science · Economic theories and models · Economic Theory and Institutions · Game Theory and Voting Systems · Mathematics
The Great Transformation
An economic theory of democracy
The Theory of Committees and Elections
The Pure Theory of Public Expenditure
A Bargaining Model of the Pure Theory of Public Expenditure
The Nature of the Firm
Clubs, Commonality, and the Core
The Foundations of Welfare Economics
The relevance of Pareto optimality
| Unique citing works | 5 |
|---|---|
| Citations per year | 0.1 |
| Citation span | 1974 - 2020 (47) |
| Citation velocity | historical |
| Highly cited | No |
| Citation types | Neutral: 5 |