Social Choice and Individual Values Arrow Kenneth JosephPaperback
Social Choice and Individual Values Arrow Kenneth JosephPaperback 2012 Reprint of 1951 Edition. Kenneth Arrow's monograph "Social Choice and Individual Values" and a theorem within it created modern…
Specifikacia Social Choice and Individual Values Arrow Kenneth JosephPaperback
Social Choice and Individual Values Arrow Kenneth JosephPaperback
2012 Reprint of 1951 Edition. Kenneth Arrow's monograph "Social Choice and Individual Values" and a theorem within it created modern social choice theory, a rigorous melding of social ethics and voting theory with an economic flavor. Exact facsimile of the original edition, not reproduced with Optical Recognition Software.
The theorem states that, absent restrictions on either individual preferences or neutrality of the constitution to feasible alternatives, there exists no social choice rule that satisfies a set of plausible requirements. The work culminated in what Arrow called the "General Possibility Theorem," better known thereafter as Arrow's (impossibility) theorem. The result generalizes the voting paradox, which shows that majority voting may fail to yield a stable outcome.
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