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- variable proportions, law of
- vent for surplus
- Verdoorn's law
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- Walras's stability
- Weber's theory of the location of the firm
- Wicksell's theory of capital
- x-efficiency
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Condorcet's Principle
(1785)
Named after French mathematician and philosopher MARIE ANTOINE CONDORCET (1743-1794), Condorcet's principle deals with the complexity of voting and choices, by which the final choice is made by rejection of all other alternatives in a series of paired contests.
CONDORCET observed that 'majority voting is the best voting rule when only two people can vote'.
Also see: paradox of voting, compensation principle, social welfare function, impossibility theorem
Source:
M Condorcet, Essai sur I'application de l'analyse à la probabilité des decisions rendues a la
pluralité des voix (Paris, 1785)
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