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New Course
Concept
Arrow's Impossibility Theorem
Arrow's Impossibility Theorem
demonstrates that no
rank-order voting system
can convert
individual preferences
into a
community-wide ranking
while simultaneously meeting a set of
fair criteria
, including
unrestricted domain
, non-dictatorship,
Pareto efficiency
, and
independence of irrelevant alternatives
. This theorem reveals inherent
limitations in designing a perfect voting system
, highlighting the trade-offs necessary in
collective decision-making
processes.
Relevant Degrees
Economic Theory and Concepts 63%
Combinatorial Analysis and Graph Theory 38%
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