Refining the Information Function Method: Instrument and Application
|Title:||Refining the Information Function Method: Instrument and Application|
|Journal or Publication Title:|
Czech Economic Review, 8, 2, pp. 84-102
|Uncontrolled Keywords:||Preference aggregation, independence condition, information function, partially relevant information|
Information function method is a powerful tool for analyzing the information requirements of social welfare functions. However, the original information function provides only a coarse description of information structure. In this article, we propose a refinement of this method by changing the range of the information function. We also analyze the role of partially relevant information in preference aggregation through an application of the refined version of the information function method.