Decision Sciences
4 years ago

Impossibility Theorem debunked: New decision rules redefine social choice theory!

SSRN Electronic Journal
State-Salient Decision Rules
Somdeb Lahiri

Paper Summary

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The Impossibility Theorem of social choice theory isn't all bad. It actually helps us understand how decision rules work when our preferences change based on the situation. Some decision rules don't follow this pattern, showing that there are exceptions to the rule.