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This paper analyzes the Impossibility theory of Kenneth Arrow and proposes a plausible approach to administrate this …
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In this paper we provide Impossibility Theorems for social welfare functionals. We adapt the method of proving the inevitability of dictatorial Bergson-Samuelson social welfare functions for fixed utility profiles developed in a paper by Robert P. Parks in 1976. With a little more from results...
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Abstract: Since the 18th century, doubt has been raised concerning “rational” majoritarian public choice: the “voting paradox” holds, in a simple calculation made famous by the Marquis de Condorcet, that rational resolution of divergent preferences by voting is impossible. The economist...
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