Asked by
Drekia Campbell
on Nov 05, 2024Verified
Which of the following is an example of the impossibility theorem?
A) voting paradox
B) logrolling
C) free rider problem
D) social choice
Impossibility Theorem
A proposition demonstrated by Kenneth Arrow showing that no system of aggregating individual preferences into social decisions will always yield consistent, nonarbitrary results.
Voting Paradox
A simple demonstration of how majority-rule voting can lead to seemingly contradictory and inconsistent results. A commonly cited illustration of the kind of inconsistency described in the impossibility theorem.
Social Choice
The problem of deciding what society wants. The process of adding up individual preferences to make a choice for society as a whole.
- Comprehend voting anomalies and the implications of majority rule.
Verified Answer
SM
Learning Objectives
- Comprehend voting anomalies and the implications of majority rule.