Economic/Social
Voting Paradox (Condorcet Paradox)
Collective preferences can be circular even when individual preferences are rational
Overview
A situation where majority rule produces cyclical outcomes, with no clear winner.
Three voters rank three options: Voter 1 prefers A>B>C, Voter 2 prefers B>C>A, Voter 3 prefers C>A>B. Majority prefers A over B, B over C, but also C over A. The collective preference is circular despite each individual being rational.