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The Arrow Impossibility Theorem (Hardcover)
Loot Price: R451
Discovery Miles 4 510
You Save: R91
(17%)
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The Arrow Impossibility Theorem (Hardcover)
Series: Kenneth J. Arrow Lecture Series
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List price R542
Loot Price R451
Discovery Miles 4 510
You Save R91 (17%)
Expected to ship within 10 - 15 working days
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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 ideal-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.
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