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> Weyl and Lalley prove that the collective decision rapidly approximates efficiency as the number of voters increases. By contrast, no extant voting procedure
by chestervonwinch 9y ago
> Weyl and Lalley prove that the collective decision rapidly approximates efficiency as the number of voters increases. By contrast, no extant voting procedure is efficient.
I'm assuming they're working within some mathematical formalism where efficiency is defined in some manner, but I can't access the linked paper. Can anyone explain what efficiency means in this context or provide some links to the mathematical framework for this stuff?
- VHRanger 9y agoEfficient usually refers to Pareto efficiency. Sometimes (rarely) Kaldor-Hicks efficiency or "no deadweight loss" efficiency