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A commonsense assessment of Arrow's theorem

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  • Ortona, Guido

Abstract

The usual, pessimistic interpretation of Arrow's General Possibility Theorem ("Impossibility" in textbooks) stems from a refusal to accept social indifference between alternatives. If social indifference is absent the Condorcet rule satisfies the axioms of the theorem. It is also argued that social indifference is rare, and that it is easy to find a second-round rule to be employed if it occurs, with no effects on the use of the Condorcet rule in the first round.

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  • Ortona, Guido, 2015. "A commonsense assessment of Arrow's theorem," POLIS Working Papers 182, Institute of Public Policy and Public Choice - POLIS.
    • Handle: RePEc:uca:ucapdv:182
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    References listed on IDEAS

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    1. Mueller,Dennis C., 2003. "Public Choice III," Cambridge Books, Cambridge University Press, number 9780521894753, January.
    2. Kenneth J. Arrow, 1950. "A Difficulty in the Concept of Social Welfare," Journal of Political Economy, University of Chicago Press, vol. 58(4), pages 328-328.
    3. Baron, David P & Ferejohn, John, 1987. "Bargaining and Agenda Formation in Legislatures," American Economic Review, American Economic Association, vol. 77(2), pages 303-309, May.
    4. Bissey, Marie-Edith & Ortona, Guido, 2007. "The program for the simulation of electoral systems ALEX4.1: what it does and how to use it," POLIS Working Papers 82, Institute of Public Policy and Public Choice - POLIS.
    5. Mueller,Dennis C. (ed.), 1997. "Perspectives on Public Choice," Cambridge Books, Cambridge University Press, number 9780521553773, January.
    6. Marie-Edith Bissey & Mauro Carini & Guido Ortona, 2004. "ALEX3: a Simulation Program to Compare Electoral Systems," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 7(3), pages 1-3.
    7. Ilia Tsetlin & Michel Regenwetter & Bernard Grofman, 2003. "The impartial culture maximizes the probability of majority cycles," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 21(3), pages 387-398, December.
    8. Gordon Tullock, 1967. "The General Irrelevance of the General Impossibility Theorem," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 81(2), pages 256-270.
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    More about this item

    JEL classification:

    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General

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