An account of a new theory and method of voting, judging and ranking, majority judgment, shown to be superior to all other known methods. In Majority Judgment, Michel Balinski and Rida Laraki argue that the traditional theory of social choice offers no acceptable solution to the problems of how to elect, to judge, or to rank. They find that the traditional model—transforming the "preference lists" of individuals into a "preference list" of society—is fundamentally flawed in both theory and practice. Balinski and Laraki propose a more realistic model. It leads to an entirely new theory and method—majority judgment—proven superior to all known methods. It is at once meaningful, resists strategic manipulation, elicits honesty, and is not subject to the classical paradoxes encountered in practice, notably Condorcet's and Arrow's. They offer theoretical, practical, and experimental evidence—from national elections to figure skating competitions—to support their arguments. Drawing on insights from wine, sports, music, and other competitions, Balinski and Laraki argue that the question should not be how to transform many individual rankings into a single collective ranking, but rather, after defining a common language of grades to measure merit, how to transform the many individual evaluations of each competitor into a single collective evaluation of all competitors. The crux of the matter is a new model in which the traditional paradigm—to compare—is replaced by a new paradigm—to evaluate.
This book gives a concise presentation of the mathematical foundations of Game Theory, with an emphasis on strategic analysis linked to information and dynamics. It is largely self-contained, with all of the key tools and concepts defined in the text. Combining the basics of Game Theory, such as value existence theorems in zero-sum games and equilibrium existence theorems for non-zero-sum games, with a selection of important and more recent topics such as the equilibrium manifold and learning dynamics, the book quickly takes the reader close to the state of the art. Applications to economics, biology, and learning are included, and the exercises, which often contain noteworthy results, provide an important complement to the text. Based on lectures given in Paris over several years, this textbook will be useful for rigorous, up-to-date courses on the subject. Apart from an interest in strategic thinking and a taste for mathematical formalism, the only prerequisite for reading the book is a solid knowledge of mathematics at the undergraduate level, including basic analysis, linear algebra, and probability.
An account of a new theory and method of voting, judging and ranking, majority judgment, shown to be superior to all other known methods. In Majority Judgment, Michel Balinski and Rida Laraki argue that the traditional theory of social choice offers no acceptable solution to the problems of how to elect, to judge, or to rank. They find that the traditional model—transforming the "preference lists" of individuals into a "preference list" of society—is fundamentally flawed in both theory and practice. Balinski and Laraki propose a more realistic model. It leads to an entirely new theory and method—majority judgment—proven superior to all known methods. It is at once meaningful, resists strategic manipulation, elicits honesty, and is not subject to the classical paradoxes encountered in practice, notably Condorcet's and Arrow's. They offer theoretical, practical, and experimental evidence—from national elections to figure skating competitions—to support their arguments. Drawing on insights from wine, sports, music, and other competitions, Balinski and Laraki argue that the question should not be how to transform many individual rankings into a single collective ranking, but rather, after defining a common language of grades to measure merit, how to transform the many individual evaluations of each competitor into a single collective evaluation of all competitors. The crux of the matter is a new model in which the traditional paradigm—to compare—is replaced by a new paradigm—to evaluate.
This book gives a concise presentation of the mathematical foundations of Game Theory, with an emphasis on strategic analysis linked to information and dynamics. It is largely self-contained, with all of the key tools and concepts defined in the text. Combining the basics of Game Theory, such as value existence theorems in zero-sum games and equilibrium existence theorems for non-zero-sum games, with a selection of important and more recent topics such as the equilibrium manifold and learning dynamics, the book quickly takes the reader close to the state of the art. Applications to economics, biology, and learning are included, and the exercises, which often contain noteworthy results, provide an important complement to the text. Based on lectures given in Paris over several years, this textbook will be useful for rigorous, up-to-date courses on the subject. Apart from an interest in strategic thinking and a taste for mathematical formalism, the only prerequisite for reading the book is a solid knowledge of mathematics at the undergraduate level, including basic analysis, linear algebra, and probability.
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