Arrow's impossibility theorem

Arrows impossibility theorem,

Definition of Arrows impossibility theorem:

  1. A theory by Kenneth Arrow which states that there is no preferential voting method that fairly decides the result of an election that involves three or more candidates while satisfying criteria. The criteria are unrestricted domain, non-dictatorship, Pareto efficiency and independence of irrelevant alternatives.

Meaning of Arrows impossibility theorem & Arrows impossibility theorem Definition