Examlex
The figure above shows how ____ works.
Condorcet Paradox
A situation in social choice theory where collective preferences can be cyclic (not transitive) despite the transitive preferences of individual voters.
Majority Rule
A decision-making principle where the preferences or decisions supported by more than half of the participants are adopted.
Transitive Preferences
A condition in decision-making where if an individual prefers option A over option B and prefers option B over option C, then the individual also prefers option A over option C.
Median voter theorem
A theory suggesting that the outcome of a majority rule voting system will represent the preferences of the median voter.
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