Examlex
Factor by grouping.
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Individual Preferences
The personal likes or dislikes of an individual, which influence their decisions and behavior.
Social Preferences
Social Preferences indicate how individuals’ decision-making is influenced by the welfare of others, beyond self-interest.
Transitivity
In decision theory, the principle that if option A is preferred over B, and B is preferred over C, then A should be preferred over C.
Arrow's Impossibility Theorem
A theory indicating it is impossible to formulate a social preference ordering that satisfies all of a specific set of reasonable criteria when voters have three or more options.
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