Social Choice Theory is a framework used to analyze how individual preferences can be aggregated to reach collective decisions. It explores various methods for making choices in groups, such as voting systems and consensus-building techniques. The theory aims to understand the fairness and efficiency of these methods, considering how they can reflect the diverse opinions of all participants.
One key aspect of Social Choice Theory is the Arrow's Impossibility Theorem, which states that no voting system can perfectly translate individual preferences into a fair collective decision under certain conditions. This highlights the challenges in achieving a truly democratic process, as different systems can lead to different outcomes and may favor certain groups over others.