25.6 Suppose there are three individuals in society trying to rank three social states (A, B, and...
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25.6 Suppose there are three individuals in society trying to rank three social states (A, B, and C). For each of the methods of social choice indicated, develop an example to show how (at least) one of the Arrow axioms will be violated.
a. Majority rule without vote trading.
b. Majority rule with vote trading.
c. Point voting where each voter can give 1, 2, or 3 points to each alternative and the al ternative with the highest point total is selected.
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Related Book For
Microeconomic Theory Basic Principles And Extensions
ISBN: 9780030335938
8th Edition
Authors: Walter Nicholson
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