Example 1 Majority Rule 3 rational people have rational preferences over 2 alternatives x, y! Person 123 1st x Y X 1:X>Y L.e. Person 2. y>X 2nd Y X Y 3:X>Y How to Aggregate their preferences? How to choose?Example 1 Majority Rule • 3 rational people have rational preferences over 2 alternatives {x,y} Person 1 2 3 1 st X Y X 1 : X>Y Pref. i.e.Person 2 : Y>X 2 nd Y X Y 3 : X>Y How to Aggregate their preferences? How to choose?