Week 2

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    Created by
    HarshMoth7943

    Cards (20)

    • Egalitarianism is equal sharing of outfits and costs
    • Egalitarianism is a justifiable way of allocating resources, however it may not be feasible or the best
    • Egalitarian methods may not be par metro efficient if there is a solution where the costs are unequal but lower for both parties
    • Unanimity means that if everyone prefers x to y, then y should not be used
    • Pareto inferiority is when a decision is made where both parties can be better off of a different decision was made
    • Maximin is when you make the worst off person least worst of- the minimum utility is maximised
    • Anonymity is when the utility vector is rearranged in order of highest to lowest value
    • Leximin is when the maximin is inconclusive, so you must choose the option where the second worst case scenario is the best
    • Classical utilitarianism is when the total cost of each decision is added up, then the option with the lowest total cost is selected
    • The plurality rule is used in voting
    • The plurality rule is used when each voter casts one vote, and the candidate with the most votes wins
    • Condorcet voting means that the winner is the candidate who would beat all other candidates in a head-to-head battle, even if they didn’t receive the highest number of votes
    • There may not be a Condorcet winner, if a>b, b>c, but c>a, so it cycles in majority
    • the borda rule gives points for every rank (like Eurovision)
    • there are profiles where the concordant, bordent and plurality winners are all differeny
    • There are 3 acceptible sets of axioms, U, P and IIA. With these in place, it is impossible to find a reasonable outcome for the whole society, so the only ranking we can use is a dictatorship
    • no scoring rule satisfies all desireable assumptions
    • U is unrestricted domain. individuals can have any preference, and they are not restricted
    • P is Pareto. If everyone prefers X to Y, then society should chose X
    • IIA is independence of Irrelevant Alternatives; that the social preference of X and Y should only depend on individuals' preferences of X and Y