In a football tournament, if University of Florida beats Ohio State, and Ohio State beats Georgia Tech, it does not mean that Florida beats Georgia Tech.This scenario violates the rationality assumption on preference of the utility theory.Identify this assumption of preference.
A)Transitivity of preference
B)Convexity of preference
C)Completeness of preference
D)Monotonicity of preference
E)Circularity of preference

Question

Quizplus · Accepted Answer

The assumption violated is the transitivity of preference, which states that if a person prefers option A over B and prefers B over C, then they should prefer A over C. In the given scenario, this logical sequence does not hold, indicating a violation of transitivity.

In a Football Tournament, If University of Florida Beats Ohio