Business, 22.02.2021 19:40 raywils0n12300p0t3yc

(1) Christopher takes (x1, x2) to be at least as good as (y1, y2) if and only if x1 â‰¥ y1 and x2 â‰¥ y2. Show which condition his preferences violate.
(2) Explain how it would be possible to cheat someone who had intransitive pref- erences. Be explicit about what you would offer him, and what he would do in response.
(3) A household formed by Mom (M), Dad (D), and Child (C) is deciding what to do on Friday evening. The alternatives are attending an opera (O), a rock concert (R), or an ice-skating show (I). The three members of the household have individual preferences: Oâ‰»M Râ‰»M I, Iâ‰»D Oâ‰»D R, Râ‰»C Iâ‰»C O. Thehouseholdmakes decisions by majority voting: An option is chosen if and only if at least two people vote for it. Show which condition the majority rule violates

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(1) Christopher takes (x1, x2) to be at least as good as (y1, y2) if and only if x1 â‰¥ y1 and x2 â...

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