Choice, Preferences, and Procedures: A Rational Choice Theoretic Approach - Tapa dura

Kotaro Suzumura is one of the foremost leaders of thought in rational decisions and social choice as well as the economics of welfare. The reach of his work is breathtaking, and I cannot think of anything that can beat this collection for its reach and profundity in exploring some of the most foundational issues in decision making, investigated at the highest level of analytical sophistication. The work is an inspiration as well as an intellectual feast.--Amartya Sen, Harvard University Suzumura's leading position as a scholar in the theory of individual and social choice, and in the understanding of the intellectual foundations of public choice, is assured. This book shows the arc of his development. It contains a deep comprehension of the issues involved, both in their technical aspects and in their philosophical foundations.--Kenneth J. Arrow, Stanford University The book collects the best of Kotaro Suzumura's work on social choice and welfare economics, adding a long introduction about his influences and several essays on the history of social choice...The volume will serve as a useful collection of Suzumura's work for social choice theorists and graduate students interested in the field, especially because it includes material that is otherwise hard to obtain.--R. B. Emmett"Choice" (11/01/2016)

Kotaro Suzumura is one of the world's foremost thinkers in social choice theory and welfare economics. Bringing together essays that have become classics in the field, Choice, Preferences, and Procedures examines foundational issues of normative economics and collective decision making. Social choice theory critically assesses and rationally designs economic mechanisms for improving human well-being. Suzumura's contribution over the past forty years has entailed fusion of abstract ideas with an understanding of real-world economies in a coherent analysis. In groundbreaking essays he explores the nature of individual and social choice and the idea of freedom of choice, different forms of rationality of choice, and concepts of individual rights, equity, and fairness. Suzumura elucidates an innovative approach for interpersonal comparisons in the vein of Adam Smith's notion of sympathy and expounds the effect of accommodating nonconsequential features, such as the opportunity to choose and the procedure for decision making, along with consequential features. He also shows how restricting competition may improve social welfare. This is not to recommend government regulation rather than market competition but to emphasize the importance of procedural features in a competitive context. Concluding essays focus on the ideas of Vilfredo Pareto, Arthur Pigou, John Hicks, and Paul Samuelson.