The Condorcet Paradox is a situation in voting theory where collective preferences can be cyclic, meaning that a group may prefer option A over B, B over C, and yet C over A. This creates a scenario where there is no clear winner, even though individual preferences are consistent. This paradox highlights the complexities of group decision-making and challenges the idea that majority rule always leads to a rational outcome. It was named after the French philosopher Marquis de Condorcet, who studied voting systems and their implications for democracy in the 18th century.