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True/False and explain. If all the individuals in a society have transitive preferences over the three...

  1. True/False and explain. If all the individuals in a society have transitive preferences over the three goals of national healthcare policy (health, equity, and wealth), then society has transitive preferences over the three goals of healthcare policy

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Correct Answer:

False

Individuals have  three goals and they can set their transitive preferences as per their own choices, but a society cannot build its own transitive preferences. It is explained by the Arrow impossibility theorem. The theorem says that if there are three goals or choices, then a society wide effect of transitive preferences cannot be built even if individuals can possess transitive preferences. The theorem is given by Ken Arrow.

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