The Arrow Impossibility Theorem

By: Kenneth J. Arrow and Eric Maskin and Prasanta K. Pattanaik and Amartya Sen and Joseph E. Stiglitz

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Synopsis: Kenneth Arrow's pathbreaking "impossibility theorem" was a watershed 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, Amartya Sen and Eric Maskin 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, while Maskin discusses how to design a voting rule that gets us closer to the ideal -- given that achieving the ideal is impossible. The volume also contains a contextual introduction by social choice scholar Prasanta K. Pattanaik and commentaries from Joseph E. Stiglitz and Kenneth Arrow himself, as well as essays by Sen and Maskin outlining the mathematical proof and framework behind their assertions.

Book Quality:: Publisher Quality
ISBN-13:: 9780231526869
Related ISBNs:: 9780231153287
Publisher:: Columbia University Press
Date of Addition:: 07/20/14
Copyrighted By:: Columbia University Press
Adult content:: No
Language:: English
Has Image Descriptions:: No
Categories:: Nonfiction, Business and Finance, Mathematics and Statistics, Philosophy, Politics and Government
Submitted By:: Bookshare Staff
Usage Restrictions:: This is a copyrighted book.