Samuelson conjectured that Arrow's impossibility theorem will hold in a cardinal setup where individuals and society express their preferences by von-Neumann Morgenstern utility functions. It is shown that this is true provided that an additional axiom of continuity is imposed and that it is not true when continuity is not required.
MLA
Schmeidler, David, and Ehud Kalai. “Aggregation Procedure for Cardinal Preferences: A Formulation and Proof of Samuelson's Impossibility Conjecture.” Econometrica, vol. 45, .no 6, Econometric Society, 1977, pp. 1431-1438, https://www.jstor.org/stable/1912309
Chicago
Schmeidler, David, and Ehud Kalai. “Aggregation Procedure for Cardinal Preferences: A Formulation and Proof of Samuelson's Impossibility Conjecture.” Econometrica, 45, .no 6, (Econometric Society: 1977), 1431-1438. https://www.jstor.org/stable/1912309
APA
Schmeidler, D., & Kalai, E. (1977). Aggregation Procedure for Cardinal Preferences: A Formulation and Proof of Samuelson's Impossibility Conjecture. Econometrica, 45(6), 1431-1438. https://www.jstor.org/stable/1912309
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