推荐微观经济学Microeconomics英文课件PPT 33 Welfare.pptxVIP

Lec 20 Chapter Thirty-ThreeWelfareSocial ChoiceDifferent economic states will be preferred by different individuals.How can individual preferences be “aggregated” into a social preference over all possible economic states?Aggregating Preferencesx, y, z denote different economic states.3 agents; Anna, Bill, and Cindy.Use simple majority voting to decide a state?Aggregating PreferencesMore preferredLess preferredAggregating PreferencesMajority Vote Resultsx beats yAggregating PreferencesMajority Vote Resultsx beats yy beats zAggregating PreferencesMajority Vote Resultsx beats yy beats zz beats x