The "independence of irrelevant alternatives" is a principle in decision theory and economics, particularly associated with the work of Kenneth Arrow. It states that if a choice is made between two options, the introduction of a third, irrelevant option should not affect the preference between the original two. For example, if a person prefers Option A over Option B, adding Option C—which they do not prefer—should not change their preference for Option A and Option B. This principle is crucial for understanding how choices are made and can highlight inconsistencies in decision-making processes.