Page "Arrow's impossibility theorem" Paragraph 9
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The framework for Arrow's theorem assumes that we need to extract a preference order on a given set of options ( outcomes ).
Each individual in the society ( or equivalently, each decision criterion ) gives a particular order of preferences on the set of outcomes.
We are searching for a ranked voting system, called a social welfare function ( preference aggregation rule ), which transforms the set of preferences ( profile of preferences ) into a single global societal preference order.
The theorem considers the following properties, assumed to be reasonable requirements of a fair voting method:
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