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Books > Business & Economics > Finance & accounting > Finance > Public finance
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Power, Voting, and Voting Power (Paperback, Softcover reprint of the original 1st ed. 1982)
Loot Price: R1,549
Discovery Miles 15 490
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Power, Voting, and Voting Power (Paperback, Softcover reprint of the original 1st ed. 1982)
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Any normative theory of democracy involves notions of equity, which
are supposed to guide collective decisions. On the other hand, a
descriptive theory of any decision-making body must take into
account the distribution of power in that body. The development of
collective decision theory along two different paths reflects these
two foci of interest in the theory of democracy. One direction can
be subsumed under the theory of social choice, the other under the
theory of games. In the theory of social choice, the participants
are characterized only by their preferences among a set of
alternatives (candidates, courses of action, etc. ). They do not
choose among these alternatives. They only submit their preferences
to some central authority ("the Society"), which then chooses among
the alternatives in accordance with some fixed rule of aggregating
the preferences. On the other hand, the point of departure in the
theory of games is a set of actors, each of whom can choose between
alternative courses of action (strategies). The totality of choices
results in an outcome, which gener ally has different utilities for
the different actors. In this book, both approaches are presented
in selected papers, from which the reader can get an excellent
overview of the state of the art. Both branches of formal decision
theory, the theory of social choice and the theory of games, were
developed in mathematical language, but very little technical
mathematical knowledge is required to follow the arguments."
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