In His 1951 Book Social Choice and Individual Values, Arrow's

question 184

Multiple Choice

In his 1951 book Social Choice and Individual Values, Arrow's perfect voting system satisfies all of the following properties except

• A)unanimity.
• B)transitivity.
• C)reflexivity.
• D)independence of irrelevant alternatives.

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Unsystematic Events

Specific, unpredictable events that affect a single company or a small group of companies, not the entire market.

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The potential for loss of value in an investment, often measured by the variability of returns associated with a given asset.

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