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Aggregating local preferences to guide marginal policy adjustments

Author: Daniel J Benjamin; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, ©2013.
Series: Working paper series (National Bureau of Economic Research), no. 18787.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
We propose a social choice rule for aggregating preferences elicited from surveys into a marginal adjustment of policy from the status quo. The mechanism is: (i) symmetric in its treatment of survey respondents; (ii) ordinal, using only the orientation of respondents' indifference surfaces; (iii) local, using only preferences in the neighborhood of current policy; and (iv) what we call "first-order strategy-proof,"  Read more...
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Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Daniel J Benjamin; National Bureau of Economic Research.
OCLC Number: 827318376
Notes: Title from http://www.nber.org/papers/18787 viewed February 12, 2013.
"February 2013."
Description: 1 online resource (10, [1] pages) : illustrations.
Series Title: Working paper series (National Bureau of Economic Research), no. 18787.
Responsibility: Daniel J. Benjamin [and others].

Abstract:

We propose a social choice rule for aggregating preferences elicited from surveys into a marginal adjustment of policy from the status quo. The mechanism is: (i) symmetric in its treatment of survey respondents; (ii) ordinal, using only the orientation of respondents' indifference surfaces; (iii) local, using only preferences in the neighborhood of current policy; and (iv) what we call "first-order strategy-proof," making the gains from misreporting preferences second order. The mechanism could be applied to guide policy based on how policy affects responses to subjective well-being surveys.

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