Suchergebnisse

A review of books by John Bonner, Politics, Economics and Welfare (Brighton: Wheatsheaf Books, 1986); Jon Elster & Aanund Hylland [Eds], Foundations of Social Choice Theory (Cambridge & New York: Cambridge U Press, 1986); & Michale Laver, Social Choice and Public Policy (Oxford & New York: Basil Blackwell, 1986 [see listings in IRPS No. 43]). Bonner's work introduces the main elements of social choice theory to undergraduates, & presents the concepts of social welfare, utility, rationality, interpersonal comparisons, &, especially, the issue of deriving aggregate or collective welfare functions. Laver's work is also directed toward undergraduates, but its somewhat novel approach should give it a wider audience. The problem of collective action is at the core of the text. A framework for a general comparative discussion of policy outcomes in different systems is developed. The Elster & Hylland work is a collection of essays addressing substantive issues in social choice theory. F. Rasmussen

Theory of social choice mechanisms is a comparatively new theory. The first results were obtained as early as the beginning of the seventies. The book contains the most important results of the theory. In two main topics the book describes what mechanisms allow equilibrium solutions at any agents` preference profiles, and what outcomes can be implemented. The answer depends on the equilibrium concept. Furthermore the four equilibrium concepts Nash equilibrium, strong Nash equilibrium, equilibrium in dominant strategies, and the core were described in detail