In this short paper we provide two simple new versions of Arrow's impossibility theorem, in a world with only one preference profile. Both versions are extremely transparent. The first version assumes a two-agent society; the second version, which is similar to a theorem of Pollak, assumes two...

In this paper we provide a simple new version of Arrow’s impossibility theorem, in a world with only one preference profile. This theorem relies on a new assumption of preference diversity, and we explore alternative notions of preference diversity at length.

Judge Learned Hand's opinion in United States v. Carroll Towing Co. (1947) is canonized in the law-and-economics literature as the first use of cost-benefit analysis for determining negligence and assigning liability. This article revisits the case in which the Hand formula was born and examines...