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Arrow’s (im)possibility theorem

Pierre Bernhard 1 Marc Deschamps 2 
1 BIOCORE - Biological control of artificial ecosystems
CRISAM - Inria Sophia Antipolis - Méditerranée , INRA - Institut National de la Recherche Agronomique, LOV - Laboratoire d'océanographie de Villefranche
Abstract : Arrow’s (im)possibility theorem is one of the most famous and important contri- butions in economics. It concerns the difficulty to aggregate a set of individual preferences, given as rankings of a set of available alternatives, into a unique social preferences ranking via a social welfare function, or into a unique social choice. Arrow proves that in a specific framework, it is impossible to find a social welfare function which simultaneously satisfies four conditions: universal domain, weak Pareto principle, independence of irrelevant alternatives, and no dictator. Our no- tice presents this theorem, one of its proofs, and, we hope, invites the reader to discover social choice theory
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Submitted on : Tuesday, December 11, 2018 - 8:27:46 AM
Last modification on : Saturday, June 25, 2022 - 11:32:55 PM
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  • HAL Id : hal-01941037, version 1


Pierre Bernhard, Marc Deschamps. Arrow’s (im)possibility theorem. Encyclopedia of Law and Economics, inPress. ⟨hal-01941037⟩



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