Arrow's Impossibility Theorem

Above all, everyone wants voting to be fair. What does fair mean and how can we measure it? Kenneth Arrow posited a simple set of conditions that one would certainly desire in a voting system. For example, unanimity - if everyone picks candidate A, then A should win! Yet surprisingly, under a few basic assumptions, this theorem demonstrates that no voting system exists which can satisfy all the criteria. This episode is a discussion about the structure of the proof and some of its implications. Works Mentioned A Difficulty in the Concept of Social Welfare by Kenneth J. Arrow   Three Brief Proofs of Arrows Impossibility Theorem by John Geanakoplos   Thank you to our sponsors!   Better Help is much more affordable than traditional offline counseling, and financial aid is available! Get started in less than 24 hours. Data Skeptic listeners get 10% off your first month when you visit: betterhelp.com/dataskeptic   Let Springboard School of Data jumpstart your data career! With 100% online and remote schooling, supported by a vast network of professional mentors with a tuition-back guarantee, you can't go wrong. Up to twenty $500 scholarships will be awarded to Data Skeptic listeners. Check them out at springboard.com/dataskeptic and enroll using code: DATASK