Do you want BuboFlash to help you learning these things? Or do you want to add or correct something? Click here to log in or create user.



#cfa #cfa-level-1 #economics #microeconomics #reading-14-demand-and-supply-analysis-consumer-demand #section-3-utility-theory #study-session-4
Assumption of transitive preferences is a somewhat stronger assumption than complete preferences because it is essentially an assumption of rationality.
If you want to change selection, open document below and click on "Move attachment"

3. UTILITY THEORY: MODELING PREFERENCES AND TASTES
and simultaneously B is preferred to C, then it must be true that A is preferred to C. This assumption is referred to as the assumption of transitive preferences , and it is assumed to hold for indifference as well as for strict preference. <span>This is a somewhat stronger assumption because it is essentially an assumption of rationality. We would say that if a consumer prefers a skiing holiday to a diving holiday and a diving holiday to a backpacking holiday and at the same time prefers a backpacking holiday to a skiing


Summary

statusnot read reprioritisations
last reprioritisation on suggested re-reading day
started reading on finished reading on

Details



Discussion

Do you want to join discussion? Click here to log in or create user.