Ken Arrow
Arrow's impossibility theorem can be seen as a cohomological obstruction to constructing representative consumers without magical thinking.
There's plenty of beauty in Economics Paul, but that works okay: Coase's Thm, Arrow's Impossibility Thm, Fixed Pt Thms, etc...
VaR -> Kayfabe | Coase -> Economics | Stable Tastes -> Kayfabe | Arrow's Theorem -> Economics | Rep. Consumer -> Kayfabe | B. Scholes-> Econ
Imagine you say to Ken Arrow: "Well you still need a voting system that gets a group to act like an individual." He says: Fuggedaboudit.
Topological Arrow Impossibility theorem for a circle: There is no continuous map from S1xS1 onto its diagonal restricting to the identity.
@disitinerant @tonofbuns @BretWeinstein @primalpoly Iâll take 1 pass at it. Scientists who study optical illusions, cognitive biases, Goedel incompleteness, Arrowâs impossibility theorem etc are tempted to abandon shared objective reality as substrate. Yet these folks cannot be the core. They are the adjustment to shared reality.
@kierhanratty @skdh Arrow? Marshall? Nash? Von Neumann? Black-Scholes-Merton-Bachelier? Modigliani? Coase?
It's about the same to me.
Economists: Ken Arrow taught us we canât aggregate rational preferences into the preferences of a mythical super-individual to represent society.
Also Economists: Konus taught us that Inflation is measured relative to agentsâ PERSONAL preferences.
BLS Economists: US CPI is 7.9%
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