Article(electronic)#1December 15, 2015
Mancur Olson and the tragedy of the unbalanced commons
In: Decyzje, Issue 24, p. 191-202
ISSN: 2391-761X
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Article(electronic)#2January 18, 2006
Investing in the Unknown and Unknowable
In: Capitalism and society: a journal of The Center on Capitalism and Society, Volume 1, Issue 2
ISSN: 1932-0213
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Article(electronic)#3January 2005
Irving Fisher, Victor Fuchs, and the Health‐Government Tangle
In: The American journal of economics and sociology, Volume 64, Issue 1, p. 435-443
ISSN: 1536-7150
Abstract A comment on the article by Victor Fuchs in this volume.
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Article(electronic)#4May 1996
The economics of catastrophes
In: Journal of risk and uncertainty, Volume 12, Issue 2-3, p. 113-140
ISSN: 1573-0476
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Article(electronic)#5January 1, 1996
19th Annual Lecture of the Geneva Association Insurance and Catastrophes
In: The Geneva papers on risk and insurance - issues and practice, Volume 21, Issue 1, p. 3-21
ISSN: 1468-0440
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Article(electronic)#6December 1995
Insurance and catastrophes
In: The Geneva papers on risk and insurance theory, Volume 20, Issue 2, p. 157-175
ISSN: 1573-6954
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Article(electronic)#7January 1986
Comments: Behavioral Versus Rational Economics: What You See is What You Conquer
In: The journal of business, Volume 59, Issue S4, p. S435
ISSN: 1537-5374
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Article(electronic)#8December 1982
Toward a Theory of the Rent-seeking Society. James M. Buchanan , Robert D. Tollison , Gordon Tullock
In: Journal of political economy, Volume 90, Issue 6, p. 1303-1306
ISSN: 1537-534X
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Article(electronic)#9September 1973
Voting Systems, Honest Preferences and Pareto Optimality
In: American political science review, Volume 67, Issue 3, p. 934-946
ISSN: 1537-5943
The market is a decentralized system that can bring about efficient economic decisions. This paper examines whether social choice mechanisms can duplicate this success in the political arena. The famed Arrow result tells us centralized systems cannot achieve efficient, nondictatorial outcomes unless they rely on cardinal preferences. With decentralization, efficiency comes to require something more: the truthful revelation of preferences. Schemes that elicit honest preferences are derived here. By their very structure they are shown to lead to inefficient outcomes. This negative result leads to the question whether the validity of the initial analogy continues. Market-based standards of performance may be innappropriate for investigations of political phenomena.
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Article(electronic)#122019
Strategic Sorting: The Role of Ordeals in Health Care
In: NBER Working Paper No. w26041
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Article(electronic)#132013
Investing in the Unknown and Unknowable
In: Capitalism and Society, Vol. 1, Issue 2, Article 5, 2006
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Article(electronic)#14March 1971
A Tale of Probable Regions: A Statistical Fable
In: Journal of political economy, Volume 79, Issue 2, p. 376-380
ISSN: 1537-534X
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