A paradox of intransitive preferences arising from the aggregation of individual transitive preferences under majority rule. Its simplest manifestation is in a group of three voters choosing among three alternatives x, y, and z, the first voter preferring the three alternatives in the order xyz, the second yzx, and the third zxy. In a majority vote, x is preferred to y by a majority of two to.
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This is Condorcet's paradox (cf. also Voting paradoxes). The easiest method of voting is, of course, straight plurality voting. Another might be two-round voting, with a second round only if there is no majority on the first round. A third, more sophisticated method, is the following: voters state their first choice. If no candidate has a majority of the votes, then that candidate with the.
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The Condorcet Paradox Revisited. By P. Jean-Jacques Herings and Harold Houba. Abstract. We analyze the simplest Condorcet cycle with three players and three alternatives within a strategic bargaining model with recognition probabilities and costless delay. Mixed consistent subgame perfect equilibria exist whenever the geometric mean of the agents' risk coefficients, ratios of utility.
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