Rationality condition is imposed in Arrow's General Possibility Theorem in order for social choice to be independent of the path of choice. In this Paper, emphasis is laid on the analysis of the relevance of path ...Rationality condition is imposed in Arrow's General Possibility Theorem in order for social choice to be independent of the path of choice. In this Paper, emphasis is laid on the analysis of the relevance of path independence and rationality condition. Two kinds of Path independence, i.e., Plott's path independence and Bandyopadhyay's sequential path independence, are shown, and their meanings with respect to the problem are investigated.展开更多
In this study,we are interested in stochastic differential equations driven by GLévy processes.We illustrate that a certain class of additive functionals of the equations of interest exhibits the path-independent...In this study,we are interested in stochastic differential equations driven by GLévy processes.We illustrate that a certain class of additive functionals of the equations of interest exhibits the path-independent property,generalizing a few known findings in the literature.The study is ended with many examples.展开更多
文摘Rationality condition is imposed in Arrow's General Possibility Theorem in order for social choice to be independent of the path of choice. In this Paper, emphasis is laid on the analysis of the relevance of path independence and rationality condition. Two kinds of Path independence, i.e., Plott's path independence and Bandyopadhyay's sequential path independence, are shown, and their meanings with respect to the problem are investigated.
文摘In this study,we are interested in stochastic differential equations driven by GLévy processes.We illustrate that a certain class of additive functionals of the equations of interest exhibits the path-independent property,generalizing a few known findings in the literature.The study is ended with many examples.
