ABSTRACT
Arrow’s Theorem [1] is one of the most important discoveries in social science theory. Arrow asks if there are any methods for aggregating the preferences of individuals that meet several reasonable conditions: universal admissibility, transitivity, unanimity (weak Paretianism), and independence from irrelevant alternatives. Through a series of formal proofs he concludes that the only methods for achieving all four of these conditions are dictatorial, that is, the social choice is perfectly aligned with the preferences of one individual.
