6 found
  1.  25
    Welfare Economics and Bounded Rationality: The Case for Model-Based Approaches.Paola Manzini & Marco Mariotti - 2014 - Journal of Economic Methodology 21 (4):343-360.
    In this paper, we examine the problems facing a policy maker who observes inconsistent choices made by agents who are boundedly rational. We contrast a model-less and a model-based approach to welfare economics. We make the case for the model-based approach and examine its advantages as well as some problematic issues associated with it.
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  2.  31
    Choosing Monetary Sequences: Theory and Experimental Evidence. [REVIEW]Paola Manzini, Marco Mariotti & Luigi Mittone - 2010 - Theory and Decision 69 (3):327-354.
    We formulate and investigate experimentally a model of how individuals choose between time sequences of monetary outcomes. The model assumes that a decision maker uses, sequentially, two criteria to screen options. Each criterion only permits a decision between some pairs of options, while the other options are incomparable according to that criterion. When the first criterion is not decisive, the decision maker resorts to the second criterion to select an alternative. We find that: (1) traditional economic models based on discounting (...)
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  3.  37
    On the Representation of Incomplete Preferences Over Risky Alternatives.Paola Manzini & Marco Mariotti - 2008 - Theory and Decision 65 (4):303-323.
    We study preferences over lotteries which do not necessarily satisfy completeness. We provide a characterization which generalizes Expected Utility theory. We show in particular that various sure-thing axioms are needed to guaranteee the representability in terms of utility intervals rather than numbers, and to provide a linear interval order representation which is very much in the spirit of Expected Utility theory.
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  4. Choice Over Time.Paola Manzini & Marco Mariotti - 2009 - In Paul Anand, Prasanta Pattanaik & Clemens Puppe (eds.), Handbook of Rational and Social Choice. Oxford University Press.
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  5.  61
    Nash Bargaining Theory, Nonconvex Problems and Social Welfare Orderings.Vincenzo Denicolò & Marco Mariotti - 2000 - Theory and Decision 48 (4):351-358.
    In this paper we deal with the extension of Nash bargaining theory to nonconvex problems. By focussing on the Social Welfare Ordering associated with a bargaining solution, we characterize the symmetric Nash Bargaining Solution (NBS). Moreover, we obtain a unified method of proof of recent characterization results for the asymmetric single-valued NBS and the symmetric multivalued NBS, as well as their extensions to different domains.
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    An Ethical Interpretation of the Nash Choice Rule.Marco Mariotti - 2000 - Theory and Decision 49 (2):151-157.
    This paper provides an ethical intepretation of the Nash choice rule. In a setting in which (cardinal) utilities are interpersonally comparable, this procedure is characterised by an impartiality requirement and by the assumption that choices are not responsive to the agents' relative ability to convert resources into utility.
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