On the topological equivalence of the Arrow impossibility theorem and Amartya Sen's liberal paradox

We will show that the Arrow impossibility theorem for binary social choice rules that there exists no binary social choice rule which satisfies transitivity, Pareto principle, independence of irrelevant alternatives (IIA), and has no dictator, and Amartya Sen’s liberal paradox for binary social choice rules that there exists no binary social choice rule… CONTINUE READING