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. Consider the following example, where voters are asked to rank
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