The probability of Condorcet cycles and super majority rules

Article Abstract:

A set of parameters wherein a Condorcet cycle happens tend to be extremely small in suitable conditions. A major element in the efficiency of the parametric approach is recognizing the ordering of individual preferences with permutations. The process allows the linking of the presence of Condorcet cycles to combinatorial properties of permutations. The resulting bonds, which can be improved, is essential in relating acyclicity with the significance of incompleteness for aggregrated preferences resulting from super majority rules.

Econometrics & Model Building, Research, Models, Economics, Econometrics, Business models, Parameter estimation

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Markets for composite goods

Article Abstract:

Assumptions about preferences and production technologies in standard studies of general equilibrium theory are based on the physical attributes of goods, and on the date, location and state of nature at which these goods are available. A study on the Arrow-Debreu economic model analyzed an arbitrary economy featuring a finite amount of elementary goods, where the goods traded in actual markets are assumed to be composite goods defined by linear combinations of fixed weights of groups of elementary goods.

United States, Case studies, Markets (Economics), Distribution, Consumer goods, Supply and demand, Equilibrium (Economics)

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On the existence of endogenous cycles

Article Abstract:

Endogenous business cycles have always been present in the overlapping-generations model. Studies seem to imply that these cycles may be present only if individuals exhibit rates of preference for the present which are high to the point of being unrealistic. It is shown that once homotheticity is eliminated, the Engel curve for equal prices where there is a point where the slope is lesser than one is a sufficient condition

Usage, Economic aspects, Business cycles, Engel's law

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