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Katerina likes apples better than she likes bananas, but she likes bananas better than she likes oranges. Given a choice between oranges and apples though, Katerina will take the oranges every time. What can we say about Katerina's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory Isaiah would rather take the bus to work than walk, but he'd rather take a train than walking or taking a bus. What can we say about Isaiah's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory

Katerina likes apples better than she likes bananas, but she likes bananas better than she likes oranges. Given a choice between oranges and apples though, Katerina will take the oranges every time. What can we say about Katerina's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory Isaiah would rather take the bus to work than walk, but he'd rather take a train than walking or taking a bus. What can we say about Isaiah's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter9: Decision Making Under Uncertainty
Section9.5: Multistage Decision Problems
Problem 22P: The model in Example 9.3 has only two market outcomes, good and bad, and two corresponding...
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Katerina likes apples better than she likes bananas, but she likes bananas better than she likes oranges. Given a choice between oranges and apples though, Katerina will take the oranges every time. What can we say about Katerina's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory
Transcribed Image Text:Katerina likes apples better than she likes bananas, but she likes bananas better than she likes oranges. Given a choice between oranges and apples though, Katerina will take the oranges every time. What can we say about Katerina's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory
Isaiah would rather take the bus to work than walk, but he'd rather take a train than walking or taking a bus. What can we say about Isaiah's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory
Transcribed Image Text:Isaiah would rather take the bus to work than walk, but he'd rather take a train than walking or taking a bus. What can we say about Isaiah's preferences in terms of the assumptions of rational choice theory? They violate the consistency assumption. They violate the completeness assumption. They violate the transitivity assumption. They satisfy all the assumptions of rational choice theory
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