preferences ⊕ institutions ⊕ physical possibilities = outcomes

Notes from Wikiquote

"The application of laboratory experimental methods to public choice". In C.S. Russell (Ed.), Collective decision making: Applications from public choice theory (1979)

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Almost anything one says or has said about what society wants or should get is threatened with internal inconsistency.

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Quote text and notes from Wikiquote: Charles Plott (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.

preferences ⊕ institutions ⊕ physical possibilities = outcomes

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