Doug Huffman
Banned
imported post
The proof
http://cowles.econ.yale.edu/P/cd/d11a/d1123-r3.pdf
The Wikipedia's synopsis
http://en.wikipedia.org/wiki/Arrow%27s_impossibility_theorem
The Wiki's introduction
In social choice theory, Arrow’s impossibility theorem, or Arrow’s paradox, demonstrates that no voting system can convert the ranked preferences of individuals into a community-wide ranking while also meeting a certain set of reasonable criteria with three or more discrete options to choose from. These criteria are called unrestricted domain, non-imposition, non-dictatorship, Pareto efficiency, and independence of irrelevant alternatives. The theorem is often cited in discussions of election theory as it is further interpreted by the Gibbard–Satterthwaite theorem. The theorem is named after economist Kenneth Arrow, who demonstrated the theorem in his Ph.D. thesis and popularized it in his 1951 book Social Choice and Individual Values. The original paper was entitled "A Difficulty in the Concept of Social Welfare".[1] Arrow was a co-recipient of the 1972 Nobel Prize in Economics.
The proof
http://cowles.econ.yale.edu/P/cd/d11a/d1123-r3.pdf
The Wikipedia's synopsis
http://en.wikipedia.org/wiki/Arrow%27s_impossibility_theorem
The Wiki's introduction
In social choice theory, Arrow’s impossibility theorem, or Arrow’s paradox, demonstrates that no voting system can convert the ranked preferences of individuals into a community-wide ranking while also meeting a certain set of reasonable criteria with three or more discrete options to choose from. These criteria are called unrestricted domain, non-imposition, non-dictatorship, Pareto efficiency, and independence of irrelevant alternatives. The theorem is often cited in discussions of election theory as it is further interpreted by the Gibbard–Satterthwaite theorem. The theorem is named after economist Kenneth Arrow, who demonstrated the theorem in his Ph.D. thesis and popularized it in his 1951 book Social Choice and Individual Values. The original paper was entitled "A Difficulty in the Concept of Social Welfare".[1] Arrow was a co-recipient of the 1972 Nobel Prize in Economics.
