Economics · Social Choice Theory
Which of the following conditions describes 'Non-Dictatorship' in Arrow's Impossibility Theorem?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1The government centrally decides all outcome rankings
- 2Market prices determine all social choices
- 3No single individual's preferences automatically determine the social outcome✓
- 4One person's preferences strictly determine the social outcome
Correct answer
No single individual's preferences automatically determine the social outcome
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