Suppose you are given the following preference information: a: (0, 1, 0: 3000, 2000, 1000)is indifferent to b: (3/4, 0, 1/4: 3000, 2000, 1000). Given the prospects c: (1/3, 1/3, 1/3: 3000, 2000, 1000)and c: (1/2, 1/4, 1/4: 3000, 2000, 1000), which of the following statements is true?
A)d is preferred to c
B)c is indifferent to d
C)c is preferred to d
D)A preference ranking cannot be found with the given information.

Question

Quizplus · Accepted Answer

a is indifferent to b, so a has the same preference for (3000, 2000, 1000) as b. c has a higher probability of getting (3000, 2000, 1000) than d, so a has a higher preference for c than d.

Suppose You Are Given the Following Preference Information: A: (0