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Though Arrow Says It’s Impossible, It Happens Everyday


  • Mohammad Gani

    (Economic Science Institute, Dhaka, Bangladesh.)


Arrow’s Impossibility Theorem shows that transitive social preference is impossible. This note shows that in the general case of exchange, social preference need not be transitive. Indeed, it shows that social preference must be non-transitive to allow gainful exchange to maximize social welfare. Thus though Arrow says it is impossible, it actually happens everyday and everywhere.

Suggested Citation

  • Mohammad Gani, 2004. "Though Arrow Says It’s Impossible, It Happens Everyday," Microeconomics 0405008, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwpmi:0405008
    Note: Type of Document - pdf; pages: 2. An original concept of consistency of social preference to change social scineces in general. Dismisses Arrow.

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    More about this item


    Social Choice; Collective Decision; Trade; Money; Arrow;
    All these keywords.

    JEL classification:

    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
    • F11 - International Economics - - Trade - - - Neoclassical Models of Trade

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