Question
Explain Arrow’s Impossibility Theorem
Answer :
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The Arrow's impossibility theorem is a social-choice paradox illustrating the impossibility of having an ideal voting structure that is reflective of specific fairness criteria, such as Pareto efficiency. Arrow's impossibility theorem states that a clear order of preferences cannot be determined while adhering to mandatory principles of fair voting procedures.
For example, the following shows the type of problem typical of an election.
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