Question
Arrow’s Impossibility Theorem
Answer :
Word Count : 389
Arrow's impossibility theorem is a social-choice paradox illustrating the flaws of ranked voting systems. It states that a clear order of preferences cannot be determined while adhering to mandatory principles of fair voting procedures. Arrow's impossibility theorem, named after economist Kenneth J. Arrow, is also known as the general impossibility theorem.
According to Arrow's impossibility theorem, in all cases where preferences are ranked, it is impossible to formulate a social ordering without violating one of the following conditions:
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