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Mentioned in 1 episodes
Social Choice and Individual Values
Book • 1951
In 'Social Choice and Individual Values', Kenneth Arrow examines the difficulties of aggregating individual preferences into a collective decision.
The book introduces Arrow's Impossibility Theorem, which states that no voting system can simultaneously satisfy conditions like nondictatorship, Pareto efficiency, and independence of irrelevant alternatives.
This theorem has had a profound impact on welfare economics, political science, and decision-making theory.
The book introduces Arrow's Impossibility Theorem, which states that no voting system can simultaneously satisfy conditions like nondictatorship, Pareto efficiency, and independence of irrelevant alternatives.
This theorem has had a profound impact on welfare economics, political science, and decision-making theory.
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Mentioned in 1 episodes
Mentioned by Jordan Peterson as a source for insights into political theory and social choice.
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245. The Uncomfortable Truth Behind Economic Inequality | Glenn Loury
