Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
He [Arrow] invented an abstract voting game between three hypothetical electors to determine, mathematically, if it is even possible to conceive of a political economy in neoclassical terms, even given their pretty unrealistic assumptions, and he finds that it is not:

Well, Condorcet saw it first... ;-)

"Ce qui vient au monde pour ne rien troubler ne mérite ni égards ni patience." René Char

by Melanchthon on Mon Oct 11th, 2010 at 11:37:55 AM EST
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