If AB and BC do not imply AC, where means "preferred to", then preferences are intransitive.

Name: If A>B and B>C do not imply A>C, where > means "preferred to", then preferences are intransitive.
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Question

If A>B and B>C do not imply A>C, where > means "preferred to", then preferences are intransitive.

Quizplus · Accepted Answer

The statement is a well-known paradox in decision theory called the Allais paradox, which violates the transitivity of preferences. It shows that people's choices may not always be consistent with their stated preferences, indicating that preferences may not be transitive.

If A>B and B>C Do Not Imply A>C, Where >