Collective decision making for socially acceptable pollution levels
Student name: Mr Aishwary Kant Gupta
Guide: Dr Soumendu Sarkar
Year of completion: 2016
Host Organisation: TERI University
Abstract: This study characterizes single dipped preferences over two dimensions i.e. a public bad and private good. This research highlights that, in domains where-in individual preferences are single dipped over two dimensions, Arrow’s impossibility theorem holds. This essentially means that, a social welfare function satisfying Pareto and independent of irrelevant alternatives in the domain of two dimensional single dipped preferences would be dictatorial. We show that a social welfare function would violate transitivity when assumed to be non dictatorial, Pareto and Arrow IIA. This research also asserts that Gibbard Satterthwaite theorem holds as a corollary to Arrow’s impossibility result.
