Reference Entry

Arrow’s impossibility theorem

Nigar Hashimzade, Gareth Myles and John Black

in A Dictionary of Economics

Fifth edition

Published in print January 2017 | ISBN: 9780198759430
Published online January 2017 | e-ISBN: 9780191819940
Arrow’s impossibility theorem

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The theorem provides a proof that no perfect process exists for aggregating individual rankings of alternatives into a collective (or social) ranking. An example of an aggregation process is ...

Reference Entry.  223 words. 

Subjects: Economics

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