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The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1972 (John R. Hicks and Kenneth J. Arrow)

Nobel Prize Outreach · 1972

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2026-09-01

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EstablishedArrow proved that, with more than two alternatives, no rule for aggregating individual rankings into a complete and transitive social ranking can satisfy universal domain, weak Pareto, independence of irrelevant alternatives and non-dictatorship at once.