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A joint Politics and Economics series |
Social choice and electoral systems |
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Mathematics portal |
Part of the behavioral sciences |
Economics |
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Social choice theory is a branch of welfare economics that extends the theory of rational choice to collective decision-making.[1] Social choice studies the behavior of different mathematical procedures (social welfare functions) used to combine individual preferences into a coherent whole.[2][3][4] It contrasts with political science in that it is a normative field that studies how a society can make good decisions, whereas political science is a descriptive field that observes how societies actually do make decisions. While social choice began as a branch of economics and decision theory, it has since received substantial contributions from mathematics, philosophy, political science, and game theory.
Real-world examples of social choice rules include constitutions and parliamentary procedures for voting on laws, as well as electoral systems;[5] as such, the field is occasionally called voting theory.[5][6][7] It is closely related to mechanism design, which uses game theory to model social choice with imperfect information and self-interested citizens.
Social choice differs from decision theory in that the latter is concerned with how individuals, rather than societies, can make rational decisions.