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Arrow's impossibility theorem

Arrow's impossibility theorem

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Arrow's impossibility theorem is a key result in social choice theory, proved by American economist Kenneth Arrow. It shows that no procedure for group decision-making under ordinal utilities can satisfy the requirements of rational choice theory. Specifically, no such rule can…

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Arrow's impossibility theorem
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▲ 97💬 84

Arrow's impossibility theorem is a key result in social choice theory, proved by American economist Kenneth Arrow. It shows that no procedure for group decision-making under ordinal utilities can satisfy the requirements of rational choice theory. Specifically, no such rule can…

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