Suppose that in a series of paired-choice votes, a new park is preferred to a new recreation center and a new recreation center is preferred to street widening. Also suppose that street widening is preferred to a new park.
This set of votes is an example of the
A) principal-agent problem.
B) beneﬁts-received principle.
C) median-voter model.
D) paradox of voting.

Question

Quizplus · Accepted Answer

This set of votes is an example of the paradox of voting, also known as Arrow's impossibility theorem. This theorem states that it is impossible to create a voting system that satisfies a set of rational and fair criteria, such as completeness and transitivity. In this case, the preferences of the individuals are inconsistent and cannot be resolved in a way that satisfies these criteria, leading to the paradox of voting. Therefore, there is no clear or best choice.

Suppose That in a Series of Paired-Choice Votes, a New