Arrow's impossibility theorem: Difference between revisions
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Linked to Kenneth Arrow on this wiki, and did some copyediting of the summary, breaking it up into the lead paragraphs, the #Summary section, and the #Notes section |
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== Notes ==
Another version of Arrow’s theorem can be obtained by replacing the monotonicity criterion with that of:
* '''unanimity''' or '''[[
This statement is stronger, because assuming both monotonicity and independence of irrelevant alternatives implies Pareto efficiency.
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