tag:blogger.com,1999:blog-1740670447258719504.post7777837333383670295..comments2024-03-27T03:00:27.024-04:00Comments on Facts & other stubborn things: Great post from Don Boudreaux on Ken Arrow and the Virginia electionEvanhttp://www.blogger.com/profile/12259004160963531720noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-1740670447258719504.post-47598097031100776042013-11-10T08:07:21.075-05:002013-11-10T08:07:21.075-05:00One thing that is worth bearing in mind in that Ar...One thing that is worth bearing in mind in that Arrow stressed his theorem applied not only to government, but to all methods of allocating resources in which large numbers of people were involved, including markets. Also, if the theorem is combined with theories of divided minds or multiple selves, they may well imply even an individual cannot have a utility function.Unlearningeconhttps://www.blogger.com/profile/13687413107325575532noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-56596290775289686302013-11-08T09:36:29.355-05:002013-11-08T09:36:29.355-05:00Ah yes, I forgot about that domain. And Kenneth Ar...Ah yes, I forgot about that domain. And Kenneth Arrow was one of the leading pioneers for social choice theory, right?<br /><br />As for the second link...yes, concepts from information theory have been applied to matters toward sub-fields of economics apart from research in econometrics. But I don't think you will be taking concepts that have been applied to social choice theory any writing any research papers on this any time soon right? In any case - has your lecturer on information theory ever mentioned the <i>International Journal of Approximate Reasoning</i>? It's a journal that is classified in the field of computer science (according to the Elsevier website), but it's actually an interdisciplinary outlet - apart from computer scientists, philosophers, mathematicians, and economists have published research in that outlet. I think there is stuff in that journal pertaining to information theory, and I would be surprised if your lecturer <i>wasn't</i> aware of that outlet. <br /><br />One last thing - the first author of the second link has published in <i>Social Choice and Welfare</i> not too long ago.<br /><br />http://link.springer.com/article/10.1007/s00355-011-0649-8Blue Aurorahttps://www.blogger.com/profile/02044362251868221897noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-48227992258336098472013-11-08T01:32:09.337-05:002013-11-08T01:32:09.337-05:00There are like a bazillion papers on the aggregati...There are like a bazillion papers on the aggregation of preferences. It's called social choice theory.<br /><br />I am not sure your first link falls under this. It's interesting that the second link uses entropy maximization. It's always good to see that the stuff I'm learning in Infometrics is used out there.Daniel Kuehnhttp://www.factsandotherstubbornthings.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-79152822182402061422013-11-08T00:38:05.780-05:002013-11-08T00:38:05.780-05:00I agree with you, Daniel Kuehn. But hasn't the...I agree with you, Daniel Kuehn. But hasn't there been research on the aggregation of preferences and opinions that are not homogenous at all, never mind independent? There was a paper in the <i>Journal of Economic Theory</i> (with Itzhak Gilboa as one of the coauthors) on this not too long ago.<br /><br />http://www.sciencedirect.com/science/article/pii/S0022053111001359<br /><br />There's also another working paper on this matter by a pair of economists from Italy dealing with a similar subject.<br /><br />http://econpapers.repec.org/paper/usiwpaper/677.htmBlue Aurorahttps://www.blogger.com/profile/02044362251868221897noreply@blogger.com