The Condorcet paradox demonstrates that the result of a majority vote may be affected by
A)moral hazard.
B)adverse selection.
C)the order of the votes.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

The Condorcet paradox is a situation in which the outcome of a majority vote depends on the order in which the alternatives are presented. It occurs when there are three or more alternatives and each alternative is preferred by a majority over at least one of the other alternatives, resulting in circular preferences. This shows that the order in which the alternatives are presented can affect the final outcome, leading to an inconsistent or paradoxical result. Therefore, the correct choice is C, the order of the votes.

The Condorcet Paradox Demonstrates That the Result of a Majority