322.920 KS Public Economics, Social Choice & Normative Economics
Next course will take place in WS 2018!
This course will be concerned with the aggregation of individual preferences into a group preference needed for the determination of optimal public policies. We will provide a formal analysis of group decision processes and investigate how other (such as income) information can be aggregated to inequality and poverty measures. Discussing the theoretical structure of public goods, club goods and externalities, this will lead us to the determination of optimal mechanisms and various impossibility results. Normative aspects will guide us through the analysis by giving us the possibility to establish axiomatic comparisons between various aggregation procedures. An explicit look at one major normative concept, namely fairness, will conclude the course.
tests and exams
At least 50 points needed to pass the course.
- 4 Nov (max 15 pts)
- 18 Nov, 08.00am, HS 15.04 (max 40 pts)
- 16 Dec, 18.00am, HS 15.04 (max 45 pts)
- Hindriks, J. and G.D. Myles (2006): Intermediate Public Economics, MIT Press, Cambridge.
- Gärtner, W. (2009): A Primer in Social Choice Theory, Oxford University Press, New York.
- Osborne, M.J. (2004): An Introduction to Game Theory, Oxford University Press, New York.
- Moulin, H.J. (2003): Fair Division and Collective Welfare, MIT Press, Cambridge.
- Nurmi, H. (2002): Voting Procedures Under Uncertainty, Springer, Berlin.
- McCain, R.A. (2009): Game Theory and Public Policy, Edward Elgar, Cheltenham.
- Serrano, R. (2003): "The Theory of Implementation of Social Choice Rules", mimeo.
- Myerson, R.B. (2008): "Perspectives on Mechanism Design in Economic Theory", American Economic Review, 98, 586 - 603.
- Niederle, M. Roth, A.E. and T. Sönmez (2008): "Matching and Market Design", in: Durlauf, S.N. and L.E. Blume (eds.): The New Palgrave Dictionary of Economics, 2nd edition, Palgrave, Macmillan.
- Klamler, C. (2010): "Fair Division", in: Kilgour, D.M. and C. Eden (eds.): Handbook of Group Decision and Negotiation, Springer, Berlin.