Described in Social Choice and Individual Values, for 10 points, name this theorem from social choice theory formulated by a co-winner of the Nobel Prize in Economics with Alfred Hicks.
John Geanakoplos wrote three brief proofs of it, and an extension of it applying to single winners is known as the Gibbard-Satterthwaite theorem. A later version of this idea implements Pareto efficiency instead of non-imposition and monotonicity. Its criteria include unrestricted domain and non-dictatorship, and it states that in the presence of three or more options, there is no consistent method to construct social preferences from individual ones. Described in Social Choice and Individual Values, for 10 points, name this theorem from social choice theory formulated by a co-winner of the Nobel Prize in Economics with Alfred Hicks.
John Geanakoplos wrote three brief proofs of it, and an extension of it applying to single winners is known as the Gibbard-Satterthwaite theorem.
{Arrow's impossibility} theorem [accept {Arrow's paradox}]