I believe that Arrow's Theorem has been widely misinterpreted, and with a slightly different interpretation it makes more sense.
Here is my argument:
For every collection of preferences, there must be some outcome that satisfies Arrow's Theorem. Like, for voting there must be some winner or there is some sort of tie. Either there is a winner or there is not. Arrow's Theorem can't demand that there has to be a winner and there cannot be a winner.
Since for any collection of preferences there must be some outcome that satisfies Arrow's Theorem, we can make an a... (read more)
I believe that Arrow's Theorem has been widely misinterpreted, and with a slightly different interpretation it makes more sense.
Here is my argument:
For every collection of preferences, there must be some outcome that satisfies Arrow's Theorem. Like, for voting there must be some winner or there is some sort of tie. Either there is a winner or there is not. Arrow's Theorem can't demand that there has to be a winner and there cannot be a winner.
Since for any collection of preferences there must be some outcome that satisfies Arrow's Theorem, we can make an a... (read more)