ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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8. The Borda Count is a common way of making a choice among more than two alternatives. As defined in the text, each member of society assigns a rank to the social alternatives (1, 2, ...), with 1 corresponding to the first choice, and so on. The ranks each alternative gets are summed over all the individuals. The alternative with the lowest sum wins; the second choice has the second-lowest sum, and so forth. Set up an example to show that the Borda Count violates the independence of irrelevant alternatives. *Hint:* Use a three-person society with three alternatives and rank them using a Borda Count. Then introduce a fourth alternative.
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Transcribed Image Text:8. The Borda Count is a common way of making a choice among more than two alternatives. As defined in the text, each member of society assigns a rank to the social alternatives (1, 2, ...), with 1 corresponding to the first choice, and so on. The ranks each alternative gets are summed over all the individuals. The alternative with the lowest sum wins; the second choice has the second-lowest sum, and so forth. Set up an example to show that the Borda Count violates the independence of irrelevant alternatives. *Hint:* Use a three-person society with three alternatives and rank them using a Borda Count. Then introduce a fourth alternative.
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