Strategy in the Real World · Designing games
Voting & Social Choice
How to turn individual preferences into group decisions: plurality, runoff, ranked-choice, Borda and Condorcet methods; the Condorcet paradox; Arrow's impossibility theorem; strategic voting; the median voter theorem; and approval voting.
Step 1 of 5 · Overview30 min read ·
Key idea
Prereqs: Nash equilibrium. Next: Behavioral game theory. Sources: Kenneth Arrow, *Social Choice and Individual Values* (1951); Condorcet (1785); Duncan Black (1948) and Anthony Downs (1957); Stanford Encyclopedia of Philosophy, 'Social Choice Theory'.Next: 1. Voting rules