Examlex
The sample space is the set of hearts from a standard deck of 52 cards. What is the probability that the 2 of diamonds will be drawn?
Majority Rule
A decision-making rule in which policies or choices are decided based on the preference of the majority of participants.
Transitive Preferences
A condition in decision-making where if an individual prefers option A over B, and B over C, then the individual also prefers A over C.
Condorcet
A method of decision making, named after the French mathematician Marquis de Condorcet, that identifies the option that would win a majority of votes in all possible pairings against each of the other options.
Social Choice and Individual Values
A concept in welfare economics and political science that examines how to aggregate individual preferences, values, or welfare to reach collective decisions.
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