Kenneth Arrow's monograph Social Choice and Individual Values (1951, 2nd ed., 1963, 3rd ed., 2012) and a theorem within it created modern social choice theory, a rigorous melding of social ethics and voting theory with an economic flavor. Somewhat formally, the "social choice" in the title refers to Arrow's representation of how social values from the set of individual orderings would be implemented under the constitution. Less formally, each social choice corresponds to the feasible set of laws passed by a "vote" (the set of orderings) under the constitution even if not every individual voted in favor of all the laws.
The work culminated in what Arrow called the "General Possibility Theorem," better known thereafter as Arrow's (impossibility) theorem. The theorem states that, absent restrictions on either individual preferences or neutrality of the constitution to feasible alternatives, there exists no social choice rule that satisfies a set of plausible requirements. The result generalizes the voting paradox, which shows that majority voting may fail to yield a stable outcome.
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Arrow's monograph SocialChoiceandIndividualValues (1951, 2nd ed., 1963, 3rd ed., 2012) and a theorem within it created modern socialchoice theory, a rigorous...
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presented. Kenneth J. Arrow's SocialChoiceandIndividualValues (1951) influenced formulation of the theory of public choiceand election theory. Building...
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Decoy effect Decision theory Arrow, Kenneth Joseph (1963). SocialChoiceandIndividualValues (2nd ed.). Wiley. Kennedy, Peter (2003). A Guide to Econometrics...
Theorem," citing J. Kelly, SocialChoice Theory: An Introduction Arrow, Kenneth J. (1951). SocialChoiceandIndividualValues. New York: John Wiley. OCLC...
(1963). Social Choice andIndividualValues, 2nd ed., ch. VIII Archived 2013-07-01 at the Wayback Machine, sect. 2, The Social Decision Process, pp. 106–08...
doi:10.1111/j.1467-9299.2011.01977.x. Arrow, Kenneth (1951). SocialChoiceandIndividualValues. New York: John Wiley & Sons. Gibbard, Allan (1973). "Manipulation...
Modern Library. OCLC 1328372842. Arrow, Kenneth J. (1963). Socialchoiceandindividualvalues. Yale University Press. ISBN 0-300-01363-9. OCLC 186435742...
221. Kenneth J. Arrow, 1963. SocialChoiceandIndividualValues, 2nd ed. • Jonathan Riley, 2008. "utilitarianism and economic theory," The New Palgrave...
Resources in other libraries Arrow, Kenneth J. (1963), 2nd ed. SocialChoiceandIndividualValues. Yale University Press, New Haven, pp. 119–120 (constitutional...
philosophy and debated philosophical themes. One of the books he was most interested in was Kenneth Arrow's SocialChoiceandIndividualValues. In Cambridge...
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maint: multiple names: authors list (link) Kenneth Arrow, SocialChoiceandIndividualValues (1963), p. 120 (source for Arrow's defense of transitivity...
1958. On the Theory of Economic Policy. Arrow, Kenneth J. SocialChoiceandIndividualValues. (1970) Atkinson, Anthony B. "On the Measurement of Inequality"...
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provided evidence suggesting that individuals aim for the highest mate value possible, in both others and themselves. Mate values that have continuously been...
merging of mathematics and political economy. American economist Kenneth Arrow's (1921–2017) published SocialChoiceandIndividualValues in 1951. It consider...
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