- Series: Cowles Foundation Monographs Series
- Paperback: 144 pages
- Publisher: Yale University Press; 2nd edition (September 10, 1970)
- Language: English
- ISBN-10: 0300013647
- ISBN-13: 978-0300013641
- Product Dimensions: 8 x 5.1 x 0.4 inches
- Shipping Weight: 0.3 ounces
- Average Customer Review: 5.0 out of 5 stars See all reviews (5 customer reviews)
- Amazon Best Sellers Rank: #1,391,675 in Books (See Top 100 in Books)
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Social Choice and Individual Values, Second edition (Cowles Foundation Monographs Series) 2nd Edition
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Top Customer Reviews
The theory of social choice is concerned with the logical problem of defining what it would mean to say that 'society prefers x to y'. More concretely, given a set of abstract individuals, each with their own set of values, how can we put these individual values together to determine what "society" wants. In particular, this theory clearly has relevance to voting, but it is abstract and has wider relevance as well. Arrow shows in this work that a few very reasonable assumptions about how these social values should behave in relation to the individual values are in fact contradictory(provided one has more than three people in the population-with two good old democracy works perfectly), forcing one to conclude that perhaps the concept of social choice is meaningless.
So he proves that an informal concept of social choice is contradictory, but that doesn't mean that if one takes weaker axioms, you can't get a consistent concept, and he studies this question, a topic of much further research, in the later chapters.
One thing to note is that Arrow's original proof was in fact fallacious, but in this book he provides a fix.Read more ›
And the store send it very fast, considering the shipment to Brazil.