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Social choice theory

(Redirected from Social choice)

Social choice theory studies how individual preferences are aggregated to form a collective choice, such as, for example in voting systems.

Kenneth Arrow was among the early pioneers of Social Choice theory, proving the impossibility of designing a set of rules for social decision making that would conform to 'reasonable' criteria (the so-called Arrow's paradox )



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01-04-2007 01:21:04