Get 20M+ Full-Text Papers For Less Than $1.50/day. Subscribe now for You or Your Team.

Learn More →

SOCIAL CHOICE AND THE ARROW CONDITIONS

SOCIAL CHOICE AND THE ARROW CONDITIONS Arrow’s impossibility result stems chiefly from a combination of two requirements: independence and fixity. Independence says that the social choice is independent of individual preferences involving unavailable alternatives. Fixity says that the social choice is fixed by a social preference relation that is independent of what is available. Arrow found that requiring, further, that this relation be transitive yields impossibility. Here it is shown that allowing intransitive social indifference still permits only a vastly unsatisfactory system, a liberum veto oligarchy. Arrow’s argument for independence, though, undermines any rationale for fixity. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Economics & Philosophy Cambridge University Press

SOCIAL CHOICE AND THE ARROW CONDITIONS

Economics & Philosophy , Volume 30 (3): 16 – Jul 3, 2014

Loading next page...
 
/lp/cambridge-university-press/social-choice-and-the-arrow-conditions-gAqX7JDSNY

References

References for this paper are not available at this time. We will be adding them shortly, thank you for your patience.

Publisher
Cambridge University Press
Copyright
Copyright © Cambridge University Press 2014 
ISSN
1474-0028
eISSN
0266-2671
DOI
10.1017/S026626711400025X
Publisher site
See Article on Publisher Site

Abstract

Arrow’s impossibility result stems chiefly from a combination of two requirements: independence and fixity. Independence says that the social choice is independent of individual preferences involving unavailable alternatives. Fixity says that the social choice is fixed by a social preference relation that is independent of what is available. Arrow found that requiring, further, that this relation be transitive yields impossibility. Here it is shown that allowing intransitive social indifference still permits only a vastly unsatisfactory system, a liberum veto oligarchy. Arrow’s argument for independence, though, undermines any rationale for fixity.

Journal

Economics & PhilosophyCambridge University Press

Published: Jul 3, 2014

References