Question

Briefly discuss the impossibility theorem as well as the ethical conditions that it advocates are the...

Briefly discuss the impossibility theorem as well as the ethical conditions that it advocates are the short-comings of the majority voting rule.

Homework Answers

Answer #1

The general impossibility theorem or Arrow's impossibility theorem states that we cannot formulate a clear order of preferences while sticking to mandatory rules of fair voting procedures. It is a social-choice paradox that shows the faults of ranked voting systems.

In cases where there is ranking of preferences , it is not possible to determine a social ordering without violating one of the following conditions listed below:

  • Nondictatorship: The choices of multiple voters should be taken into account and should not be neglected
  • Pareto Efficiency: Unanimous individual preferences must be respected: that means if every voter is prefering candidate B over candidate C, then the winner should be candidate B and not C.
  • Independence of Irrelevant Alternatives: If a choice is removed from the choices that are ranked, then the order will still remain the same. For example , suppose candidate B ranks ahead of candidate C, candidate B should still be ahead of candidate C, even if the third candidate that is, candidate D is removed from from the choices.
  • Unrestricted Domain: Voting must be considered for all individual preferences.
  • Social Ordering: Each voter should be able to order their preferences and point if there ia any tie.

For example consider there are 3 voters say A,B,C.Lets assume,

  • 25 people prefer A over B and B over C (A>B>C)
  • 20 people prefer B over C and C over A (B>C>A)
  • 10 people prefer C over A and A over B( C>A>B)

Candidate A has the maximum votes so he/she would be the winner. However, if B was removed then the winner would be C since more people prefer C over A. that is, A would get 25 votes and C would get 30 votes. This illustrates the general impossibility theorem or Arrow's theorem.

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Briefly discuss the impossibility theorem as well as the ethical conditions that it advocates are the...
Briefly discuss the impossibility theorem as well as the ethical conditions that it advocates are the short-comings of the majority voting rule
Q1(a). Discuss briefly why ethical decision-making is essential in an organization. Q1(b). Identify three (3) companies...
Q1(a). Discuss briefly why ethical decision-making is essential in an organization. Q1(b). Identify three (3) companies internationally, regionally or locally that were cited for ethical violations in their business operations. Provide a brief note on the incident. NOTE:It's COMPANIES and not people Q1(c). How could these ethical violations impact strategic leaders such as managers, CEO’s and other stakeholders?
describe key health challenges, and briefly discuss possible reasons for the prevalence of these conditions, and...
describe key health challenges, and briefly discuss possible reasons for the prevalence of these conditions, and then, critically evaluate the actual and proposed mechanisms of action within the South African National Health System post 1994, in order to achieve the vision of “ Optimal Health for All”
Discuss ethical issues that can be identified in this case and the mode of managing ethics...
Discuss ethical issues that can be identified in this case and the mode of managing ethics Enron finds itself in this case. How would you describe the ethical culture and levels of trust at Enron? Provide reasons for your assessment. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among...
SOME DRAWBACK OF BLACK-SCHOLES Briefly discuss here some difficulties associated with the Black Scholes formula, which...
SOME DRAWBACK OF BLACK-SCHOLES Briefly discuss here some difficulties associated with the Black Scholes formula, which is widely used to calculate the price of an option. For example, consider a European call option for a stock. This is the right to buy a specific number of shares of a specific stock on a specific date in the future, at a specific price (the exercise price, also called the strike price). If all these quantities are fixed, the question becomes: what...
What role could the governance of ethics have played if it had been in existence in...
What role could the governance of ethics have played if it had been in existence in the organization? Assess the leadership of Enron from an ethical perspective. THE FALL OF ENRON: A STAKEHOLDER FAILURE Once upon a time, there was a gleaming headquarters office tower in Houston, with a giant tilted "£"' in front, slowly revolving in the Texas sun. The Enron Corporation, which once ranked among the top Fortune 500 companies, collapsed in 2001 under a mountain of debt...
Please read the article and answear about questions. Determining the Value of the Business After you...
Please read the article and answear about questions. Determining the Value of the Business After you have completed a thorough and exacting investigation, you need to analyze all the infor- mation you have gathered. This is the time to consult with your business, financial, and legal advis- ers to arrive at an estimate of the value of the business. Outside advisers are impartial and are more likely to see the bad things about the business than are you. You should...