The Condorcet Paradox Tells Us That, Even Though It Is

question 156

True/False

The Condorcet paradox tells us that, even though it is impossible to satisfy all of Arrow's properties of a desirable voting system, pairwise majority voting will always satisfy transitivity.

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Definitions:

Interest-Rate Cost

The cost incurred by an individual or entity due to the interest rate applied on borrowed funds, influencing how much is paid back in interest over the loan period.

One-Time Added Profit

A temporary increase in earnings that a company experiences from a singular event or transaction, not expected to recur in the normal course of business.

Anticipates

The action of foreseeing or preparing for future events or needs.

Marginal Cost

The cost incurred by producing one additional unit of a product or service, crucial for decision-making in production and pricing strategies.