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Arrow’s Theorem

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[Revised entry by Michael Morreau on November 26, 2019. Changes to: Main text, Bibliography, notes.html] Kenneth Arrow's "impossibility" theorem - or "general possibility" theorem, as he called it - answers a very basic question in the theory of collective decision-making. Say there are some alternatives to choose among. They could be policies, public projects, candidates in an election, distributions of income and labour requirements among the members of a society, or just about anything else. There are some people whose preferences will inform this choice, and the question is: which...

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News source: Stanford Encyclopedia of Philosophy

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