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Qiaochu_Yuan comments on Harsanyi's Social Aggregation Theorem and what it means for CEV - Less Wrong Discussion
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Then I am not sure, because that blog post hasn't specified the model precisely enough for me to do any math, but my guess would be that the parliament fails to be VNM-rational. Depending on how the bargaining mechanism is set up, it might even fail to have coherent preferences in the sense that it might not always make the same choice when presented with the same pair of outcomes...