Economics Dictionary of ArgumentsHome
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| Chaos Theorem - Economics Dictionary of Arguments | |||
| Chaos theorem: The chaos theorem in economics, also known as the McKelvey-Schofield chaos theorem, is a result in social choice theory that states that if preferences are defined over a multidimensional policy space, then majority rule is in general unstable there is no Condorcet winner. This means that there is no policy that will be preferred by a majority of voters over every other policy in a pairwise comparison. See also Jury theorem, Nicholas de Condorcet, Social choice theory._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Item | More concepts for author | |
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| Social Choice Theory | Chaos Theorem | Social Choice Theory | |
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Ed. Martin Schulz, access date 2024-04-20 | |||
