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Arrow’s theorem [1963] states that a social welfare function (SWF) that simultaneously satis.es completeness, transitivity, independence of irrelevant alternatives (IIA) and Pareto principle is necessarily dictatorial in the sense that the social decision on any pair of candidates coincides...
Persistent link: https://www.econbiz.de/10010852224
It may happen that the favorite candidate of a voter loses an election if that voter votes honestly, but gets elected if the voter abstains. Such a situation is known in the social choice literature under the name of « no-show paradox ». This paper is devoted to the evaluation of the...
Persistent link: https://www.econbiz.de/10010852210