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Results tagged with social-welfare
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user 20274
Social welfare is a quantitative measure of how good or bad a policy or situation is for a society, overall. It is usually obtained by somehow "aggregating" the utility functions of all the people in that society (e.g. by computing the average utility).
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Question about the "No Dictator" Criterion in Arrow's Impossibility Theorem
I have a question about Arrow's impossibility theorem. I'm not sure I understand exactly what is meant by the "no dictator" criterion. Does the presence of a "dictator" mean that across all possible c …
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