Social choice theory stems from Arrow’s impossibility theorem. Since it is a no-existence proof, the conclusion is ultimately a universal one. This conclusion is induced immediately after the framework is set in mathematical logic, but it is impossible for us to see how we reach the result.
If, however, Arrow’s dictator is understood as actually impossible to exist, we know that no-one can realise all of his/her preference relations in society and must give up some of his/her desires. Then, we have a doubt in a basic assumption in economics such that individuals have rational preference relations over alternatives. This recognition may lead not only Arrow’s impossibility theorem but also social choice theory as a whole in various analytical directions.
Since it is impossible for anyone to make a preference ordering over a huge number of alternatives, everybody reduces it to the size of possible handling according to the nature of issue in actual decision making, which may allow an applicability of social choice theory to dynamic and realistic directions. Meanwhile, it is possible to understand why individual preference relations are not logically consistent by applying the development of natural and medical sciences, and to design human decision making processes using recent methods of computer system design. This approach may force us to reconstruct the very basic concepts of contemporary economics.
This special issue intends to grasp correctly as well as concretely the process of actual human decision making by referring to recent developments in various academic fields and examining the possible application of social choice theory as a basis of economic research. Therefore, articles by experts other than economists are welcomed.
Suitable topics include but are not limited to:
- How to manage inconsistency between micro and macro economics
- Economic efficiency and risk
- Interpretation and application of the results in social choice theory
- Total economic systems versus computer systems
- Freedom and equality in terms of natural and medical sciences
- Factors influencing human decision making
- Individual choice in terms of evolutionary biology, genes and medical sciences
- Human decision making process versus processing methods of computers
- Maximal resource use and social flexibility towards change of environment
Submission of manuscripts: 30 November, 2013
Notification to authors: 31 January, 2014
Final versions due: 30 April, 2014