AnthonyMy half-baked deep thought of the weekend:<br><br>Arrow’s Impossibility Theorem should be renamed Arrow's Context-Sensitivity Theorem, and re-interpreted as saying a social choice function that neglects context leads to dictators.<br><br>I say this because the axiom of independence from irrelevant alternatives--one of the assumptions behind the theorem--states that a social choice function should be such that the relationship between A and B is not changed once a new alternative C is introduced. Unpacked, this means the choice function should be insensitive to any context C might bring with it.<br><br>Arrow's theorem essentially says that a social choice function satisfying this and a couple other axioms leads to dictators (meaning, one individual's preferences dictate the social choice function's preferences, overruling everyone else involved in the choice who might disagree). Hence the re-interpretation: neglecting context in social choice leads to dictators.<br><br><a href="https://buc.ci?t=economics" class="mention hashtag" rel="nofollow noopener" target="_blank">#economics</a> <a href="https://buc.ci?t=socialwelfare" class="mention hashtag" rel="nofollow noopener" target="_blank">#SocialWelfare</a> <a href="https://buc.ci?t=socialchoice" class="mention hashtag" rel="nofollow noopener" target="_blank">#SocialChoice</a> <a href="https://buc.ci?t=welfareeconomics" class="mention hashtag" rel="nofollow noopener" target="_blank">#WelfareEconomics</a> <a href="https://buc.ci?t=decisiontheory" class="mention hashtag" rel="nofollow noopener" target="_blank">#DecisionTheory</a> <a href="https://buc.ci?t=arrowstheorem" class="mention hashtag" rel="nofollow noopener" target="_blank">#ArrowsTheorem</a><br>