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9 relations: Arrow's impossibility theorem, Duncan Black, Independence of irrelevant alternatives, Journal of Political Economy, Median voter theorem, Non-dictatorship, Pareto efficiency, Social choice theory, Social welfare function.
Arrow's impossibility theorem
In social choice theory, Arrow's impossibility theorem, the general possibility theorem or Arrow's paradox is an impossibility theorem stating that when voters have three or more distinct alternatives (options), no ranked voting electoral system can convert the ranked preferences of individuals into a community-wide (complete and transitive) ranking while also meeting a specified set of criteria: unrestricted domain, non-dictatorship, Pareto efficiency and independence of irrelevant alternatives.
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Duncan Black
Duncan Black (23 May 1908 – 14 January 1991) was a Scottish economist who laid the foundations of social choice theory.
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Independence of irrelevant alternatives
The independence of irrelevant alternatives (IIA), also known as binary independence or the independence axiom, is an axiom of decision theory and various social sciences.
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Journal of Political Economy
The Journal of Political Economy is a bimonthly peer-reviewed academic journal published by the University of Chicago Press.
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Median voter theorem
The median voter theorem states that "a majority rule voting system will select the outcome most preferred by the median voter".
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Non-dictatorship
In voting theory, non-dictatorship is a property of social choice functions which requires that the results of voting cannot simply mirror that of any single person's preferences without consideration of the other voters.
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Pareto efficiency
Pareto efficiency or Pareto optimality is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.
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Social choice theory
Social choice theory or social choice is a theoretical framework for analysis of combining individual opinions, preferences, interests, or welfares to reach a collective decision or social welfare in some sense.
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Social welfare function
In welfare economics, a social welfare function is a function that ranks social states (alternative complete descriptions of the society) as less desirable, more desirable, or indifferent for every possible pair of social states.
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