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Utilitarian Aggregation with Heterogeneous Beliefs
American Economic Journal: Microeconomics ( IF 2.458 ) Pub Date : 2021-07-26 , DOI: 10.1257/mic.20180344
Antoine Billot 1 , Xiangyu Qu 2
Affiliation  

The utilitarian aggregation rule requires social utility and beliefs to be a convex combination of individual utilities and beliefs, respectively. Since, in the case of belief heterogeneity, the standard Pareto condition is incompatible with such a separate aggregation, a new condition, called the belief-proof Pareto condition, is proposed to alleviate occurrences of spurious agreement by restricting unanimity to beliefs that can be considered reasonable by society. Then, we show, in the Anscombe-Aumann and the Savage framework, that the belief-proof Pareto condition is equivalent to separate aggregation of individual beliefs and tastes. (JEL D11, D71, D83)

中文翻译:

具有异质信念的功利主义聚合

功利主义聚合规则要求社会效用和信仰分别是个人效用和信仰的凸组合。由于在信念异质性的情况下,标准帕累托条件与这种单独的聚合不相容,因此提出了一种称为信念证明帕累托条件的新条件,通过将一致意见限制为可以考虑的信念来减轻虚假一致的发生社会合理。然后,我们在 Anscombe-Aumann 和 Savage 框架中表明,信念证明帕累托条件等价于个人信念和品味的单独聚合。(JEL D11, D71, D83)
更新日期:2021-07-26
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