Arrow's theorem with a fixed feasible alternative (Q1090212)
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English | Arrow's theorem with a fixed feasible alternative |
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Arrow's theorem with a fixed feasible alternative (English)
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1987
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Arrow's theorem, in its social choice function formulation, assumes that all nonempty finite subsets of the universal set of alteratives is potentially a feasible set. We demonstrate that the axioms in Arrow's theorem, with weak Pareto strengthened to strong Pareto, are consistent if it is assumed that there is a prespecified alternative which is in very feasible set. We further show that if the collection of feasible sets consists of all subsets of alternatives containing a prespecified list of alternatives and if there are at least three additional alternatives not on this list, replacing nondictatorship by anonymity results in an impossibility theorem.
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Arrow's theorem
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nondictatorship
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anonymity
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impossibility theorem
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