Arthur, an elderly and ailing man, has stated his preference to his family that he wants all possible life-extending procedures. In an economist's view, Arthur's preference is ____.

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The economist's view would be that Arthur's preference is unlikely to change because he has already stated his preference to his family, indicating a strong conviction about his decision. The economist would not take into account the family's response or the cost of the procedures involved, as those factors do not affect Arthur's own stated preference. The economist may acknowledge that discussion with his physician could potentially affect Arthur's preference, but given that Arthur has already stated a clear preference, it is unlikely to change.

Arthur, an Elderly and Ailing Man, Has Stated His Preference