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Budget-proposal Aggregation
Budget-proposal aggregation (BPA) is a problem in social choice theory. A group has to decide on how to distribute its budget among several issues. Each group-member has a different idea about what the ideal budget-distribution should be. The problem is how to aggregate the different opinions into a single budget-distribution program. BPA is a special case of Participatory budgeting rule, participatory budgeting, with the following characteristics: # The issues are ''divisible'' and ''unbounded'' – each issue can be allocated any amount, as long as the sum of allocations equals the total budget. # Agents' preferences are given by single-peaked preferences over an ''ideal budget''. It is also a special case of fractional social choice (portioning), in which agents express their preferences by stating their ideal distribution, rather than by a ranking of the issues. Another sense in which aggregation in budgeting has been studied is as follows. Suppose a manager asks his worker ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Choice Theory
Social choice theory is a branch of welfare economics that extends the Decision theory, theory of rational choice to collective decision-making. Social choice studies the behavior of different mathematical procedures (social welfare function, social welfare functions) used to combine individual preferences into a coherent whole.Amartya Sen (2008). "Social Choice". ''The New Palgrave Dictionary of Economics'', 2nd EditionAbstract & TOC./ref> It contrasts with political science in that it is a Normative economics, normative field that studies how a society can make good decisions, whereas political science is a Positive economics, descriptive field that observes how societies actually do make decisions. While social choice began as a branch of economics and decision theory, it has since received substantial contributions from mathematics, philosophy, political science, and game theory. Real-world examples of social choice rules include constitution, constitutions and Parliamentary ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |