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Concept
Collective Choice
Summary
Collective choice
refers to the process by which groups make decisions, integrating
individual preferences
, interests, or welfare into a single
collective outcome
. It is a central theme in
social choice theory
and involves mechanisms like voting, consensus-building, and bargaining to resolve conflicts and achieve
group objectives
.
Relevant Degrees
History of Economic Thought 50%
Forms of Political Organization 30%
Social Structure 20%
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