The Arrow Impossibility Theorem Eric Maskin Hardcover

* Item Description

Title: The Arrow Impossibility Theorem
Author: Maskin, Eric
Publisher: Columbia University Press
Binding: Hardcover
Pages: 168
Dimensions: 8.30h x 5.70w x 0.70d
Product Weight: 0.75 lbs.
Language: English
ISBN: 9780231153287

Kenneth J. Arrow's pathbreaking "impossibility theorem" was a watershed innovation in the history of welfare economics, voting theory, and collective choice, demonstrating that there is no voting rule that satisfies the four desirable axioms of decisiveness, consensus, nondictatorship, and independence. In this book Eric Maskin and Amartya Sen explore the implications of Arrow's theorem. Sen considers its ongoing utility, exploring the theorem's value and limitations in relation to recent research on social reasoning, and Maskin discusses how to design a voting rule that gets us closer to the ideal--given the impossibility of achieving the ideal. The volume also contains a contextual introduction by social choice scholar Prasanta K. Pattanaik and commentaries from Joseph E. Stiglitz and Kenneth J. Arrow himself, as well as essays by Maskin, Dasgupta, and Sen outlining the mathematical proof and framework behind their assertions.

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