Arrow's impossibility theorem: Difference between revisions

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== Notes ==
Another version of Arrow’s theorem can be obtained by replacing the monotonicity criterion with that of:
* '''unanimity''' or '''[[Pareto criterion|Pareto efficiency]]''': if every individual prefers a certain option to another, then so must the resulting societal preference order.
This statement is stronger, because assuming both monotonicity and independence of irrelevant alternatives implies Pareto efficiency.
 
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