Axioms Should Explain Solutions

Abstract

In normative economics, axiomatic properties of mechanisms are often formulated by taking the viewpoint of the designer on what is desirable, rather than that of the participants. By contrast, I argue that, in real-world applications, the central role of axioms should be to help explain the mechanism's outcomes to participants. I specifically draw on my practical experience in two areas: fair division, which I view as a success story for the axiomatic approach; and voting, where this approach currently falls short.