6 Pages Posted: 6 Apr 2008 Last revised: 10 Apr 2008
Date Written: April 1, 2008
In the article it is called the universality of the ordinal theory of social choice in question. It is shown that a voting exists that cannot be described on the base of ordinal theory, and to describe it the cardinal point of view is demanded. In absence of cardinal formalization of basic axioms of the social choice theory it is offered new formal mathematical machinery. It is proved that cardinal voting can satisfy Pareto efficiency, independence of irrelevant alternative, unrestricted domain, and at the same time it can be nondictatorship in disproof of Arrow's impossibility theorem.
Keywords: voting, social choice, ordinal theory, cardinal theory, Arrow's impossibility theorem
JEL Classification: D71
Suggested Citation: Suggested Citation