Which of the following is NOT one of Arrow's conditions for a social welfare function ?
Cardinal measurability of utility is not one of Arrow's conditions. The framework works with preference rankings rather than numerical utility measurements. Transitivity,…
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Which of the following is NOT one of Arrow's conditions for a social welfare function ?
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Correct answer D
Cardinal measurability of utility is not one of Arrow's conditions. The framework works with preference rankings rather than numerical utility measurements. Transitivity, non-dictatorship and independence of irrelevant alternatives belong to the requirements for social preference aggregation.
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Rajasthan SET (RSET)