The Social Choice Theory

Social Choice Theory studies how individual preferences can be combined to make collective decisions. It examines different methods for aggregating opinions—such as voting systems—to determine group choices that reflect the collective will. The theory explores challenges like fairness, consistency, and how certain decision rules can lead to paradoxes or conflicts. Its goal is to understand under what conditions a group can fairly and effectively reach decisions that best represent everyone's preferences, recognizing that no voting system is perfect and that choices often involve trade-offs between fairness, stability, and practicality.