Arrow's Impossibility Theorem is a fundamental result in social choice theory, proving that no perfect method exists for aggregating individual preferences into a collective decision. This article provides a comprehensive overview of the theorem, its axioms, historical context, key events, mathematical formulation, and relevance.
An in-depth exploration of the methods and implications of aggregating individual preferences into social choices, with a focus on voting systems and their theoretical underpinnings.
Understanding how societies make collective decisions, including the historical context, theories, mathematical models, and practical implications.
Arrow's Impossibility Theorem, a social choice theory paradox, demonstrates the inherent limitations in designing a perfect voting system that meets all fairness criteria.
