What do we know about the Arrow impossibility theorem in the history of political economy
A)It was proved by Arrow mathematically and definitively.
B)It has not been taken seriously since the 1970s.
C)It was overturned by the median voter theorem in the 1990s.
D)It runs counter to most people's intuition in that it establishes the "relevance of irrelevant alternatives."

Question

Quizplus · Accepted Answer

The Arrow impossibility theorem, proved by Kenneth Arrow, mathematically demonstrates the impossibility of a perfect voting system that satisfies all of its fairness criteria.

What Do We Know About the Arrow Impossibility Theorem in the History