Ranking by weighted sum

B-Tier
Journal: Economic Theory
Year: 2021
Volume: 72
Issue: 2
Pages: 511-532

Authors (2)

Tapan Mitra Kemal Ozbek (not in RePEc)

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

Abstract When choosing an alternative that has multiple attributes, it is common to form a weighted sum ranking. In this paper, we provide an axiomatic analysis of the weighted sum criterion using a general choice framework. We show that a preference order has a weak weighted sum representation if it satisfies three basic axioms: Monotonicity, Translation Invariance, and Substitutability. Further, these three axioms yield a strong weighted sum representation when the preference order satisfies a mild condition, which we call Partial Representability. A novel form of non-representable preference order shows that partial representability cannot be dispensed in establishing our strong representation result. We consider several related conditions each of which imply a partial representation, and therefore a strong weighted sum representation when combined with the three axioms. Unlike many available characterizations of weighted sums, our results directly construct a unique vector of weights from the preference order, which makes them useful for economic applications.

Technical Details

RePEc Handle
repec:spr:joecth:v:72:y:2021:i:2:d:10.1007_s00199-020-01305-w
Journal Field
Theory
Author Count
2
Added to Database
2026-01-26