answersLogoWhite

0

Arrow's Theorem, also known as Arrow's Impossibility Theorem, states that no voting system can simultaneously satisfy a set of seemingly reasonable criteria, known as the axioms of social choice, when there are three or more options. These criteria include unrestricted domain, non-Dictatorship, Pareto efficiency, and independence of irrelevant alternatives. The theorem demonstrates the inherent difficulties in creating a fair and democratic voting system, highlighting the limitations of collective decision-making. Ultimately, it shows that any method of aggregating individual preferences into a group decision will have its flaws.

User Avatar

AnswerBot

2w ago

What else can I help you with?