Voting Paradox

_______________________________________________________________________

voting paradox:	The voting paradox: is the analytical result that democratic choices will be inconsistent unless the preferences of sets of individuals share uniform transitivity.
Example: Lynn, Chris, and Morgan cannot agree on a Thanksgiving meal that does not leave someone eating their least favorite entrée. [Note: Though often called Arrow’s paradox after Kenneth Arrow (1921- ), who won a Nobel Prize in Economics in 1972, this problem was first described in the writings of the Marquis de Condorcet (1743-1794).]

Rank	Lynn	Chris	Morgan
1	turkey	ham	tofu
2	ham	tofu	turkey
3	tofu	turkey	ham

________________________________________________________________________________________________________________________________________________

Author: Ralph Byrns

Economics instructors and students are hereby granted provisional permission to use these materials for educational purposes only. Commercial use of any of these materials is forbidden. Withdrawal of this permission may be announced at this site without notice, and these materials may not be used thereafter without written permission.