The Discursive Dilemma in Monetary Policy

The dilemma of Rationality or Providing Efficiency in Monetary Policy Making: An Application of Arrow’s

Financial frictions inducted in the model is a new contribution to monetary economics. Herein, an analytical tool arranges monetary policymaking in the form of two steps procedure. In the first step, an appropriate amount of money supply should be assessed; and in the second step, that appropriate amount should be allocated to several sectors. The Central Bank obligates the step of assessment a...

The Monetary Policy Dilemma in Latin America and the Caribbean

The Discursive Dilemma and Public

Collective decisions are ubiquitous in complex democratic societies. Elections, referenda, decisions in legislatures, committees, multimember courts, expert panels, and boards of companies or other organizations are all examples. In such decisions, disagreement is equally ubiquitous. People disagree with each other on many levels. They disagree not only on what choices should be made but also o...

A quantitative discursive dilemma

The typical judgment aggregation problem in economics and other …elds is the following: A group of people has to judge/estimate the value of an uncertain variable y which is a function of k other variables, i.e. y = D(x1; :::xk) . We analyze when it is possible for the group to arrive at collective judgements on the variables that respect D. We consider aggregators that ful…ll Arrow’s IIA-condi...

The Discursive Dilemma as a Lottery Paradox

List and Pettit have stated an impossibility theorem about the aggregation of individual opinion states. Building on recent work on the lottery paradox, this paper offers a variation on that result. The present result places different constraints on the voting agenda and the domain of profiles, but it covers a larger class of voting rules, which need not satisfy the proposition-wise independence