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Participatory Budgeting Rule
Combinatorial participatory budgeting, also called indivisible participatory budgeting or budgeted social choice, is a problem in social choice. There are several candidate ''projects'', each of which has a fixed costs. There is a fixed ''budget'', that cannot cover all these projects. Each voter has different ''preferences'' regarding these projects. The goal is to find a ''budget-allocation'' - a subset of the projects, with total cost at most the budget, that will be funded. Combinatorial participatory budgeting is the most common form of participatory budgeting. Combinatorial PB can be seen as a generalization of committee voting: committee voting is a special case of PB in which the "cost" of each candidate is 1, and the "budget" is the committee size. This assumption is often called the ''unit-cost assumption''. The setting in which the projects are divisible (can receive any amount of money) is called portioning, fractional social choice, or budget-proposal aggregation. PB ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Social Choice
Social choice theory is a branch of welfare economics that extends the theory of rational choice to collective decision-making. Social choice studies the behavior of different mathematical procedures ( social welfare functions) used to combine individual preferences into a coherent whole.Amartya Sen (2008). "Social Choice". ''The New Palgrave Dictionary of Economics'', 2nd EditionAbstract & TOC./ref> It contrasts with political science in that it is a normative field that studies how a society can make good decisions, whereas political science is a descriptive field that observes how societies actually do make decisions. While social choice began as a branch of economics and decision theory, it has since received substantial contributions from mathematics, philosophy, political science, and game theory. Real-world examples of social choice rules include constitutions and parliamentary procedures for voting on laws, as well as electoral systems; as such, the field is occasionall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |