Suchergebnisse

If the class of admissible preference orderings is restricted in a manner appropriate for economic & political models, then K. J. Arrow's (Social Choice and Individual Values, New York: Wiley, 1963) impossibility theorem for social welfare function continues to be valid. Specifically, if the space of alternatives is R****, n(greater than or equal to) 3, where each dimension represents a different public good, & if each person's preferences are restricted to be convex, continuous, & strictly monotonic, then no social welfare function exists that satisfies unanimity, independence of irrelevant alternatives, & nondictatorship. 1 Figure. HA.