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Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498Economics 1st Edition by Dean Karlan,Jonathan Morduch
Edition 1ISBN: 978-0073511498 Exercise 6
In researching a voting system, you discover that it obeys three of the four criteria of an ideal voting system: transitivity, irrelevance of independent alternatives, and unanimity. With this information, what else do you know about this system? How can you be sure?
Explanation
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Arrow's impossibility theorem:
In the y...
Economics 1st Edition by Dean Karlan,Jonathan Morduch
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