This includes markets, by the way. Markets are more than a way of aggregating preferences; but that is one of the functions they perform. And Arrow's theorem applies just as much their preference aggregating function as it does to any other preference aggregating system.
How? Arrow's theorem applies specifically to social welfare functions. It requires a restricted set of options and a single decision. I can see how the general idea of the theorem could apply to other things, but not the theorem itself.
That's interesting, Kat. It's very much an "I don't know what to say" situation, so I can see the value of having cards, but it feels kind of off in a way that I can't put my finger on.
But you can focus on the a single decisions within a market. For example: how many Ford Tauruses shall we make. You can "cut" a decision out of a market system and treat it as a form of preferential voting on that decision.
But who are the voters and what are the options in that scenario?
Voters are the buyers. Dollars can be looked on as votes. I guess a better example would be "how many new Ford Tauruses will be put on the road this year". The voters are buyers. The dollars are votes. The other options are all other cars (new and used) for sale, plus not buying a new (to you) car.
Don't we have a lot of birthdays today, like Matt's and Cashmere's and Megan Walker's?
I think you're right, Lee.
Many happy returns!
Yes, Happy Birthday to you all!
I am suffering from sniffles and an increasingly bad sore throat, which is bad, but am using it as an excuse to leave early and thus will be able to help paint our new kitchen, so that is good. Although I have to come in on Sunday to finish all my work, which is bad, but I do have a job with some flexibility and that is good.
I'm sorry, Robin!
Kat, please do call me. Or I might call you later, when I get myself in gear and start accomplishing things.
Happy Birthdays!
