The Arrow Impossibility Theorem (Kenneth J. Arrow Lecture

The Arrow Impossibility Theorem (Kenneth J. Arrow Lecture Series)

Kenneth J. Arrow's pathbreaking "impossibility theorem" was a watershed innovation in the history of welfare economics, voting theory, and collective choice, demonstrating that there is no voting rule that satisfies the four desirable axioms of decisiveness, consensus, nondictatorship, and independence.

In this book Eric Maskin and Amartya Sen explore the implications of Arrow's theorem. Sen considers its ongoing utility, exploring the theorem's value and limitations in relation to recent research on social reasoning, and Maskin discusses how to design a voting rule that gets us closer to the idealâ€•given the impossibility of achieving the ideal. The volume also contains a contextual introduction by social choice scholar Prasanta K. Pattanaik and commentaries from Joseph E. Stiglitz and Kenneth J. Arrow himself, as well as essays by Maskin, Dasgupta, and Sen outlining the mathematical proof and framework behind their assertions.
Country USA
Brand Columbia University Press
Manufacturer Columbia University Press
Binding Hardcover
ItemPartNumber 0231153287_used
UnitCount 1
EANs 9780231153287
ReleaseDate 2014-07-01

The Arrow Impossibility Theorem (Kenneth J. Arrow Lecture Series)