Social Choice – Personality and Multiple Criteria

Author: (USA) Arrow
Publisher:
Publish Date: 2000-03-01
Features: As far as I know, this series of books is the first attempt to systematically publish the important works of all award winners. The publication of the series itself holds great significance, and its release in China carries even deeper implications. I hope its publication will not only contribute to the development of economics but also directly promote the development of China's economy. [Swedish] Nobel Memorial Prize in Economic Sciences Committee — Torsten Persson
This book includes two of the author's works on social choice. In the first chapter, "Social Choice and Individual Values," the author proposes the "Linear Theorem," which states: Under the condition that each member of society has a specific preference "sequence" for all possible socio-economic structures, it is impossible to find a preference sequence for the entire society that is logically consistent with individual preference sequences. In the second chapter, "Social Choice: Personality and Multi-Criteria," the author argues that making choices based on many different criteria is very similar to social choice. In multi-criteria situations, conclusions derived from empirical rules are often more desirable than those obtained through social choice.
Target Audience: Economics students and teachers, economic theorists, scholars, and researchers.
In the Author section, it is mentioned that social choice theory faces challenges when dealing with conflicting interests and divergent value systems. It provides many solutions to address the evolution of different values, interests, and vertical social structures. The demand for social choice is inevitable. After conducting research, it is hoped that this section will be relevant to the realities of our country. The second part points out that PXI, paragraph 2, chapter 2 is more desirable, and it is hoped that this part will help public and private enterprises.