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Because of this example, some authors credit Condorcet with having given an intuitive argument that presents the core of Arrow's theorem. [20] However, Arrow's theorem is substantially more general; it applies to methods of making decisions other than one-man-one-vote elections, such as markets or weighted voting, based on ranked ballots.
The work culminated in what Arrow called the "General Possibility Theorem," better known thereafter as Arrow's (impossibility) theorem. The theorem states that, absent restrictions on either individual preferences or neutrality of the constitution to feasible alternatives, there exists no social choice rule that satisfies a set of plausible ...
Kenneth Joseph Arrow (August 23, 1921 – February 21, 2017) was an American economist, mathematician and political theorist.He received the John Bates Clark Medal in 1957, and the Nobel Memorial Prize in Economic Sciences in 1972, along with John Hicks.
One of Zeno's paradoxes about the impossibility of motion; From the surname Arrow, it may mean: Kenneth Arrow's impossibility theorem about social choice and voting; Arrow information paradox: "its value for the purchaser is not known until he has the information, but then he has in effect acquired it without cost"
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In mathematics, an impossibility theorem is a theorem that demonstrates a problem or general set of problems cannot be solved. These are also known as proofs of impossibility, negative proofs, or negative results. Impossibility theorems often resolve decades or centuries of work spent looking for a solution by proving there is no solution.
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