Aggregating Local Preferences to Guide Marginal Policy Adjustments /
Benjamin, Daniel J.
Aggregating Local Preferences to Guide Marginal Policy Adjustments / Daniel J. Benjamin, Ori Heffetz, Miles S. Kimball, Nichole Szembrot. - Cambridge, Mass. National Bureau of Economic Research 2013. - 1 online resource: illustrations (black and white); - NBER working paper series no. w18787 . - Working Paper Series (National Bureau of Economic Research) no. w18787. .
February 2013.
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.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.
Aggregating Local Preferences to Guide Marginal Policy Adjustments / Daniel J. Benjamin, Ori Heffetz, Miles S. Kimball, Nichole Szembrot. - Cambridge, Mass. National Bureau of Economic Research 2013. - 1 online resource: illustrations (black and white); - NBER working paper series no. w18787 . - Working Paper Series (National Bureau of Economic Research) no. w18787. .
February 2013.
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.
System requirements: Adobe [Acrobat] Reader required for PDF files.
Mode of access: World Wide Web.