Individual decisions and collective choices in the history of economic thought Cover Image

Индивидуални решения и колективен избор в историята на икономическата мисъл
Individual decisions and collective choices in the history of economic thought

Author(s): Alessandro MORSELLI
Subject(s): Economy, National Economy
Published by: Институт за икономически изследвания при Българска академия на науките
Keywords: collective decision; dictatorial decision; individual decision, individual preferences; game theory; paradox of voting

Summary/Abstract: This paper highlights the difficulties encountered in building individual decisions. In addition, possible incompatibilities can be found between individual choices and collective choices. Therefore, focus will be placed on how to transfer an analysis of rational individual choice in the context of collective choices. Voting is usually the most used expression of individual wills to arrive at the formulation of a collective decision. The model used highlights the paradox of electoral participation and hence the benefit of ‘no vote’. Along the path, the difficulties encountered when one tries to transform individual preferences into collective choices through certain procedures will be examined. Therefore, other pathways should be identified in order to describe a number of decision-making procedures in the most appropriate possible way.

  • Issue Year: 2021
  • Issue No: 3
  • Page Range: 77-96
  • Page Count: 20
  • Language: Bulgarian