The ________ axiom asserts that if x is preferred to y,then x must be preferred to any probability mixture of x and y,which in turn must be preferred to y.
A) reducibility
B) continuity
C) substitutability
D) betweenness

Question

Quizplus · Accepted Answer

The betweenness axiom in decision theory posits that if an individual prefers option x over option y, then they should also prefer a mix of x and y over y alone, and prefer x over any mix of x and y. This axiom reflects a preference for intermediates between extremes.

The ________ Axiom Asserts That If X Is Preferred to Y,then