Abstract:
This article attempts to systematize Amartya Sen’s criticism of Arrow’s theoretical structure and to show how, in order to avoid the devastating results of the impossibility theorem, Sen argues for the expansion of the universe of information used as the basis of social choice. Initially, this article gives a brief summary of Arrow’s social choice theory with the purpose of providing a broad context to aid the understanding of the nature of Sen’s criticisms. Next, it presents Sen’s interpretations of the reasons that led to the impossibility result and this author’s criticism of the foundations of Arrow’s theory. Finally, some considerations are presented concerning the nature of Sen’s criticism and its consequences for the views on welfare that he eventually adopted.
Keywords:
Amartya Sen; social choice; Kenneth Arrow; impossibility theorem; informational basis