Aktion	Zweigstelle	Standorte	Status	Frist	Vorbestellungen
Vorbestellen	Zweigstelle: 07., Urban-Loritz-Pl. 2a	Standorte: GW.VT FS.E Arro / College 6e - Englisch	Status: Verfügbar	Frist:	Vorbestellungen: 0

Kenneth Arrow's monograph Social Choice and Individual Values (1951, 2nd ed., 1963) and a theorem within it created modern social choice theory, a rigorous melding of social ethics and voting theory with an economic flavor. Somewhat formally, the "social choice" in the title refers to Arrow's representation of how social values from the set of individual orderings would be implemented under the constitution. Less formally, each social choice corresponds to the feasible set of laws passed by a "vote" (the set of orderings) under the constitution even if not every individual voted in favor of all the laws. The book culminated in what Arrow called the "General Possibility Theorem," thereafter better known as Arrow's (impossibility) theorem. The theorem shows that, absent restrictions on either individual preferences or neutrality of the constitution as to feasible alternatives, there exists no social choice rule that satisfies a set of seemingly plausible requirements. The result generalizes the voting paradox, which shows that majority voting may fail to yield a stable outcome.