An Informational Basis for Voting Rules
In the problem of aggregation of rankings or preferences of several agents, there is a well-known result that reasonable social ranking is not strategy-proof. In other words, there are some situations when at least one agent can submit insincere ranking and change the final result in a way beneficial to him. We call this situation manipulable and using computer modelling we study 10 majority relation-based collective decision rules and compare them by their degree of manipulability, i.e. by the share of the situation in which manipulation is possible. We found that there is no rule that is best for all possible cases but some rules like Fishburn rule, Minimal undominated set and Uncovered set II are among the least manipulable ones.
This paper considers a voting problem in which the individual preferences of electors are defined by the ranked lists of candidates. For single-winner elections, we apply the criterion of weak positional dominance (WPD, PD), which is closely related to the positional scoring rules. Also we formulate the criterion of weak mutual majority (WMM), which is stronger than the majority criterion but weaker than the criterion of mutual majority (MM). Then we construct two modifications for the median voting rule that satisfy the Condorcet loser criterion. As shown below, WPD and WMM are satisfied for the first modification while PD and MM for the second modification. We prove that there is no rule satisfying WPD and MM simultaneously. Finally, we check a list of 37 criteria for the constructed rules.
The paper examines the structure, governance, and balance sheets of state-controlled banks in Russia, which accounted for over 55 percent of the total assets in the country's banking system in early 2012. The author offers a credible estimate of the size of the country's state banking sector by including banks that are indirectly owned by public organizations. Contrary to some predictions based on the theoretical literature on economic transition, he explains the relatively high profitability and efficiency of Russian state-controlled banks by pointing to their competitive position in such functions as acquisition and disposal of assets on behalf of the government. Also suggested in the paper is a different way of looking at market concentration in Russia (by consolidating the market shares of core state-controlled banks), which produces a picture of a more concentrated market than officially reported. Lastly, one of the author's interesting conclusions is that China provides a better benchmark than the formerly centrally planned economies of Central and Eastern Europe by which to assess the viability of state ownership of banks in Russia and to evaluate the country's banking sector.
The paper examines the principles for the supervision of financial conglomerates proposed by BCBS in the consultative document published in December 2011. Moreover, the article proposes a number of suggestions worked out by the authors within the HSE research team.